KUALA LUMPUR: Permodalan Nasional Bhd (PNB) has proposed to buyout other unitholders in its real estate investment trust (REIT) and delist the counter from the stock exchange.
The cash out deal will be implemented by way of selective unit redemption (SUR) scheme.
Under the plan, PNB will offer other unitholders in Amanah Harta Tanah PNB (AHTP) a cash payout of RM1 per unit to redeem their units.
This is a 33 sen premium over AHTP's last traded price of 67 sen on Thursday.
Funds controlled by PNB hold a combined 46.07% of AHTP.
AHTP has a market capitalisation of RM168mil and a asset value of RM456mil. It is significantly smaller compared with other REITs in the market.
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