ValueMax Group T6I has announced the application of Well Chip Group to list on the Main Market of Bursa Malaysia.
On Nov 10, the company announced that it would be undertaking an internal restructuring exercise, in which all the shares it holds in its Malaysian associated companies — SYT Pavilion, Thye Shing Pawnshop, Kedai Emas Well Chip and Kedai Pajak Well Chip — would be transferred to Well Chip by way of a share swap.
Well Chip was incorporated specifically for the proposed restructuring as an investment holding company and as an applicant for the proposed listing of Well Chip on Bursa’s Main Market.
On Nov 16, ValueMax
Well Chip has also applied to Malaysia’s Ministry of International Trade and Industries (MITI) to allocate 75,000,000 new ordinary shares of Well Chip to selected investors approved by MITI.
Shares in ValueMax closed flat at 30.5 cents on Nov 16.
