M&A in SYF Resources reverse takeover

Under the proposed exercise, furniture maker SYF will buy M&A Securities, the stockbroking arm of Insas Bhd, for RM222mil by issuing 1.009 billion new SYF shares at 22 sen each to Insas.

PETALING JAYA: M&A Securities Sdn Bhd is set to list on Bursa Malaysia via a reverse takeover of SYF Resources Bhd.

Under the proposed exercise sanctioned conditionally by the Securities Commission (SC), furniture maker SYF will buy M&A Securities, the stockbroking arm of Insas Bhd, for RM222mil with the consideration to be satisfied with the issuance of 1.009 billion new SYF shares at 22 sen each to Insas.