JCCL does not intend to maintain the listing status of CCB on the Main Market of Bursa Malaysia Securities.
PETALING JAYA: Cycle & Carriage Bintang Bhd’s (CCB) major shareholder, Jardine Cycle & Carriage Ltd (JCCL), has proposed to privatise CCB at RM2.20 per share via a selective capital reduction (SCR) and repayment exercise.
The cash repayment will amount to RM90.64mil, which represents a premium ranging from 44.24% to 75.52% above the prevailing market price of CCB shares, the company said in a Bursa Malaysia filing yesterday.
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