SC okays Premium Nutrients listing

  • Business
  • Friday, 04 Apr 2003

PREMIUM Nutrients Bhd has received approval from the Securities Commission (SC) for its flotation on the KLSE second board through a reverse takeover of Bridgecon Holdings Bhd. 

As part of a restructuring scheme, Premium would acquire Premium Vegetable Oils Bhd, which chiefly produces high-quality speciality fats. 

Premium listing would involve an offer for sale of 43.208 million shares of 50 sen each at par. 

Of the total, 20 million shares would be allocated for private placement, 10.208 million for the public, five million for bumiputra investors, three million for Bridgecon shareholders, and five million for eligible directors and employees of the Premium group. 

The Premium group makes speciality oils and fats for the food, confectionery and pharmaceutical industries, among others.  

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