Boustead to de-list from Bursa Malaysia June 28

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 percent stake or 822.51 million shares in Boustead, and plans to take it private.

LTAT, which currently holds a 59.4 percent 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 percent, which allows for the de-listing of the company and the invocation of the compulsory acquisition provision for the remaining shares.

- Bernama