KUALA LUMPUR: Bursa Malaysia will suspend the trading of MKH Bhd
on the Main Market after five market days from the extended closing date of Batu Kawan Bhd's unconditional mandatory takeover offer for the property developer.
According to Maybank Investment Bank Bhd in a bourse filing on behalf of Batu Kawan and MKH, the suspension follows the receipt of valid acceptances of not less than nine-tenths in the nominal value of the offer shares as at 5 pm today.
As at 5pm, Batu Kawan, Whitmore Holdings Sdn Bhd and parties acting in concert have raised their stake in MKH to 95.16 per cent or 548.84 million shares.
Following the achievement of the 90 per cent threshold, Batu Kawan and its ultimate offeror will invoke Section 222(1) of the Capital Markets and Services Act 2007 (CMSA) to compulsorily acquire the remaining offer shares from dissenting shareholders.
The trading suspension will result in MKH shares no longer being traded on Bursa Malaysia.
"Thereafter, the offeror and the ultimate offeror will procure MKH to take the requisite steps to withdraw its listing status from the official list in accordance with Paragraph 16.07 of the Listing Requirements,” it said.
It said the offer will remain open for acceptances until 5 pm on Oct 8, 2026, it added.
Batu Kawan had on Aug 27, 2026, made an unconditional mandatory takeover offer to acquire the remaining shares in MKH at RM2 per share.
The offer was subsequently extended to Oct 8 from Sept 17 after the offerors’ stake in MKH crossed the 90 per cent threshold.
It had said it did not intend to maintain MKH's listing status on the Main Market of Bursa Malaysia. - Bernama
