KUALA LUMPUR: Boustead Holdings Bhd (Boustead) will be removed from the official list of Bursa Malaysia Securities Bhd effective 9am on June 28.
In a filing with Bursa Malaysia today, it said the delisting was in line with Paragraph 16.07(a) of the Main Market Listing Requirements.
In March, the Armed Forces Fund Board (LTAT) made a voluntary takeover offer for a 40.58% stake or 822.51 million shares in Boustead, and plans to take it private.
LTAT, which currently holds a 59.4% interest in Boustead, is expected to fork out a total of RM703.2 million at 85.5 sen per share for the exercise.
The takeover was completed in June with LTAT’s shareholdings in Boustead standing at approximately 97.63%, which allows for the de-listing of the company and the invocation of the compulsory acquisition provision for remaining shares.