Unisem major shareholders in a dilemma

Securing buyers: John Chia and the other major shareholders will have to either convince Bursa Malaysia to give the company time to rectify the shortfall in the public spread, or find a party that is willing to take up the stake at a favourable price.

WHILE the founders of Unisem (M) Bhd, together with a few China-based buyers, have been successful in their bid to gain majority control of the company, there may be another stumbling block ahead.

The new major owners of Unisem, which now collectively hold a 83.13% stake, may face difficulty in selling down their shares to maintain the required 25% public shareholding spread of the company.