Under the proposed privatisation, announced Feb 3, GuocoLand (Malaysia) shareholders will receive RM1.10 per share, about 17% above its last traded price on Jan 30.
GuocoLand Limited is moving to privatise Bursa-listed GuocoLand (Malaysia) Berhad by way of a selective capital reduction and repayment exercise for some RM269.4 million ($86.9 million).
As at Jan 19, GuocoLand Limited’s wholly owned subsidiary GLL (Malaysia) owns approximately 65.03% of the total GuocoLand (Malaysia) shares issued, and “persons acting in concert” with GuocoLand Limited collectively hold some 67.93%.
