KUALA LUMPUR: Gateway Development Alliance Sdn Bhd (GDA) and its shareholders (consortium) have reduced the acceptance condition of its offer to 85 per cent of Malaysia Airports Holdings Bhd
’s (MAHB) total issued shares, enabling delisting of the airport operator.
The consortium said GDA expects to declare the offer unconditional and remains confident that total acceptances would exceed 90 per cent and that MAHB would be delisted from Bursa Malaysia following the acceptances totalling 86.5 per cent.
"Concurrently, the consortium has revised the closing date of the offer to Feb 4, 2025, and declared that its offer price of RM11.00 is final and will not be revised further.
"The offer price, payable wholly in cash shortly after the offer is declared unconditional, provides shareholders a substantial 44 per cent premium to MAHB’s share price one year ago (Jan 19, 2024) of RM7.64," it said in a joint statement today.
The consortium also views that MAHB’s operational and financial underperformance would continue if it remained listed.
Additionally, it said the transformation of MAHB is best undertaken as a private entity, supported by strategic and financial investors who can take a long-term approach to decision-making and capital investment. - Bernama
