PETALING JAYA: Hextar Portfolio Sdn Bhd, on behalf of Datuk Ong Choo Meng, has made a conditional voluntary takeover offer to acquire all remaining shares in Hextar Retail Bhd that are not already owned by the offeror and its ultimate offeror, at RM0.43 per share.
Hextar Portfolio currently holds 142.29 million shares, representing a 30.6% stake in Hextar Retail, while the person acting in concert, Datuk Ong Kook Liong, holds a 0.6% stake.
The RM0.43 offer price represents a 7.5% premium over Hextar Retail’s last traded price of 40 sen on Aug 7. It also represents premiums of between 0.3% and 7.8% over the company’s five-day, one-month, three-month and six-month volume-weighted average market prices.
The offer is conditional upon the offeror and Choo Meng receiving valid acceptances that would result in them holding more than 50% of Hextar Retail’s voting shares.
