Hovid gets approval for delisting from Main Market

In a circular to shareholders yesterday, AmInvestment Bank said the offer price of 38 sen is higher than the ascribed equity value of 24 sen to 28 sen per share and represented a premium of 10 sen to 14 sen

PETALING JAYA: Pharmaceutical company Hovid Bhd has received approval for its delisting from the Main Market of Bursa Malaysia.

As such, and together with shareholders’ approval for the proposed withdrawal of its listing statue at an EGM on Nov 26, all conditions for the voluntary takeover have been fulfilled and the offer is now unconditional as at Dec 3.