KUALA LUMPUR: YTL Cement Bhd has emerged as the controlling shareholder of Concrete Engineering Products
Bhd (Cepco), following an acquisition of shares worth RM103.8mil
The building materials unit of YTL Corp Bhd now owns a 53.49% equity interest in Cepco, which was acquired from several key shareholders at RM2.60 per share.
YTL Cement did not hold any shares previously in Cepco, the manufacturer of prestressed spun concrete piles and poles.
Inch Kenneth Kajang Rubber Public Limited Company, which was previously the single-largest shareholder of Cepco, has exited the company after disposing of its entire 19.3% stake to YTL Cement.
The company made a gain of RM19.97mil from the disposal.
With the majority stake in YTL Cement’s hand, this has triggered a mandatory take-over offer for all remaining shares in Cepco not already held by YTL Cement, in line with the Capital Markets and Services Act.
The offer price of RM2.60 per share represents a premium of 39% to Cepco’s closing price of RM1.87 as at March 31, 2026.
It also reflects a 40.7% premium to the five-day volume weighted average market price (VWAMP) of RM1.85.
The offer price represents the highest premium of 96.2% to the one-year VWAP of RM1.32.
The acquisition will be satisfied entirely in cash. YTL Cement said it had sufficient financial resources to satisfy the full acceptance of the offer.
YTL Cement intends to maintain the listing status of Concrete Engineering on the Main Market of Bursa Malaysia.
