Glomac to acquire remaining 49% stake in Glomac Bina for RM16.25mil

KUALA LUMPUR: Glomac Bhd is acquiring from its group executive chairman Tan Sri Mohamed Mansor Fateh Din and major shareholder Mohd Yasin Loh Abdullah 1.37 million shares in Glomac Bina Sdn Bhd, representing the remaining 49% stake it does not own, for RM16.25mil.

In a filing with Bursa Malaysia, Glomac said the purchase consideration is expected to be satisfied entirely from internally generated funds.