HLIB withdraws as independent adviser to IGB

KUALA LUMPUR: Hong Leong Investment Bank (HLIB) has withdrawn to act as an independent adviser to IGB Corporation Bhd involving the conditional takeover offer by Goldis Bhd.

"HLIB had in its letter dated Aug 5, 2014 advised IGB of its withdrawal to act as independent adviser in respect of the offer," it said.

IGB said the board of directors would appoint a new independent adviser in place of HLIB.

Goldis had made the takeover offer to buy all the remaining IGB shares not already owned at RM2.88 per share.