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.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 31
Cxense type: NA
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Business , unisem


Next In Business News

Moody’s: Sustainable bonds issuance to top US$850bil
Public Mutual declares gross distributions of RM235m for 13 funds
Central banks go big on gold buying
Earnings bounce, bond-yield drop help keep party going for US stocks
Bitcoin rallies past key $40,000
PBOC: China will maintain prudent, flexible monetary policy
Bank Rakyat launches entrepreneur programme
CPO futures seen trading with upward bias next week
As scrutiny mounts, crypto exchange Binance to wind down derivatives in Europe
Oil price climbs, notches fourth monthly gain on growing demand

Stories You'll Enjoy