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 filing with Bursa Malaysia 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 5pm yesterday.
As at 5pm, Batu Kawan, Whitmore Holdings Sdn Bhd and parties acting in concert had raised their stake in MKH to 95.16% or 548.84 million shares.
Following the achievement of the 90% threshold, Batu Kawan and its ultimate offerer will invoke Section 222(1) of the Capital Markets and Services Act 2007 or 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 offerer and the ultimate offerer 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 5pm on Oct 8, 2026. Batu Kawan had made an unconditional mandatory takeover offer to acquire the remaining shares in MKH at RM2 per share. — Bernama
