Boustead sets June 28 for delisting from Bursa Malaysia

• Last month, LTAT accumulated an over 90% stake of Boustead Holdings Bhd — reaching the threshold that paves the way for its privatisation of the company.

KUALA LUMPUR (June 23): Boustead Holdings Bhd is set to be delisted on June 28 from the Main Market of Bursa Malaysia Securities Bhd.

In a bourse filing on Friday (June 23), its entire issued share capital will be removed from the official list, in accordance with the Main Market Listing Requirements.

In an earlier filing, Lembaga Tabung Angkatan Tentera (LTAT), via UOB Kay Hian Securities (M) Sdn Bhd, had posted a compulsory acquisition notice to dissenting holders on June 16, saying that it will pay for the shares mandatorily purchased from them in cash.

It added that LTAT will take the remaining shares in Boustead Holdings after the expiration of one month from the date of the notice, or after 14 days following the posting of the names and addresses of all other dissenting holders.

Last month, LTAT accumulated an over 90% stake of Boustead Holdings Bhd — reaching the threshold that paves the way for its privatisation of the company.

At the time of writing, Boustead Holdings’ share price stood unchanged at 85.5 sen, with a market capitalisation of RM1.73 billion.