KUALA LUMPUR: Malaysia Airports Holdings Bhd (MAHB) will be delisted from the Main Market of Bursa Malaysia as its minimum public shareholding spread is now less than 25%.
In a filing with Bursa Malaysia on Tuesday, the airport operator said the shortfall in the public shareholding spread arose as a direct consequence of the offer and the shortfall is expected to increase further as a result of additional valid acceptances under the offer until it is closed for acceptances at 5pm on Feb 12.
“As of 5pm on Tuesday, the total MAHB shares held by the joint offerors and the joint ultimate offerors, including MAHB shares transferred to the joint offerors but pending receipt of the acceptance document – which are subject to verification – constitute 95.11% of the total issued shares of MAHB,” it said.
Meanwhile, Gateway Development Alliance Sdn Bhd (GDA) and its shareholders (consortium), in a statement, said they will now take steps to delist MAHB from the official list of Bursa Malaysia and the last day that MAHB shares will trade publicly is Feb 19.
In addition, the consortium will take steps to compulsorily acquire all the remaining shares in MAHB that it does not own after the final close of the offer period in accordance with Section 222 of the Capital Markets and Services Act 2007.
“The consortium looks forward to working closely with MAHB to realise its potential to become a world-class airport operator that is competitive, efficient, commercial and service-focused.
“GDA recognises that MAHB needs investment in its infrastructure and improvements in its operations to provide better services and support expansion, both of which will benefit wider Malaysia,” it said.
The consortium also believes that the transformation of MAHB is best undertaken as a private company, supported by strategic and financial investors with international technical expertise. “This will enable MAHB to take a long-term approach to decision-making, capital investment and improvements in airline connectivity and customer service,” said GDA.
It also emphasised that MAHB is a strategic Malaysian asset and will remain majority-owned by Malaysian investors through UEM Group Bhd, which is a wholly owned subsidiary of Khazanah Nasional Bhd and the Employees Provident Fund, which together have a 70% interest in GDA.
In another statement, AmInvestment Bank Bhd, on behalf of the joint offerors, said Bursa Securities will suspend the trading of MAHB’s securities from Feb 20, being the expiry of five market days from the Final Extended Closing Date, which is Feb 12.
MAHB’s share price closed at RM10.92 on Tuesday with 1.22 million shares traded. – Bernama
