Scientex makes offer to take Daibochi private

Scientex CEO Lim Peng Jin (pic) said the challenges presented by the Covid-19 pandemic highlighted the growing needs of companies to be agile to react fast to external impacts.

KUALA LUMPUR: Scientex Bhd has proposed to take its subsidiary Daibochi Bhd private by offering to acquire all the remaining shares and warrants it does not already own for RM345.3mil cash.

In a filing with Bursa Malaysia, the packaging manufacturer and property developer said the proposed voluntary takeover exercise would entail buying 38.12% of Daibochi’s issued shares, excluding treasury shares, for RM2.70 apiece, and 95.75% of its outstanding warrants for 32 sen each.