Forterra Trust shares jump on takeover offer from biggest shareholder

Mainboard-listed Forterra Trust announced on Tuesday that it has received a takeover offer from its biggest shareholder, New Precise Holdings, sending its shares jumping to a six-month high.

Forterra Trust were trading up 19 cents or 11 per cent to $1.89 at around 9:50am.

New Precise Holdings, an indirect wholly-owned subsidiary of Hong Kong developer Nan Fung Group, made a mandatory cash offer of $1.85 for units that it and its relevant parties do not own.