KUALA LUMPUR: Wing Tai Malaysia Bhd (WTM) has received a voluntary take-over offer from Wing Tai Holdings Ltd (WTH) and Wing Tai Investment & Development Pte Ltd (WTID) for a cash offer of RM1.80 per share.
WTH and WTID directly hold 222.37 million and 91.94 million WTM shares respectively, representing a total of 66.13% of the voting shares of WTM.
The offer is not conditional upon any minimum level of acceptances of the offer shares as the joint offerors already hold more than 50% of the voting shares in WTM.
In addition, the joint offerors do not intend to maintain the listing status WTW.
Based on the last traded price of WTM shares on May 22, the offer price of RM1.80 represented a 52.54% premium. WTW shares has been suspended.
“The board will hold a board meeting to deliberate the offer and make an announcement in due course,” WTM said in a filing with Bursa Malaysia.
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