JAG controls 62.72% stake in KUB following MGO

PETALING JAYA: JAG Capital Holdings Bhd’s mandatory general offer (MGO) for KUB Malaysia Bhd at 60 sen per share, has seen it obtain 163.82 million shares, which is equivalent to a 29.44% stake in KUB.

In a filing with Bursa Malaysia, KUB said this would increase JAG’s shareholding in the company to 62.72% or 349 million shares,

The MGO closed at 5pm on Monday.

In its circular to shareholders, JAG said it does not intend to keep KUB’s listing status if it secures 90% of all KUB shares.

It however said that it would maintain KUB’s listing status if it secures between 75% and 90%.