IJM Plantations to be delisted

File pic shows a KLK oil palm plantation.

KUALA LUMPUR: Kuala Lumpur Kepong Bhd (KLK) will withdraw the listing status of IJM Plantations Bhd (IJMP) as it has managed to secure more than 90% of shares in IJMP after twice extending the mandatory takeover offer’s closing date.

On its behalf, RHB Investment Bank announced that KLK had received valid acceptances under the offer and had acquired offer shares resulting in it holding 795.39 million shares, representing 90.33% of IJMP’s total issued shares.