KUALA LUMPUR (Nov 3): Kuala Lumpur Kepong Bhd (KLK) will withdraw the listing status of IJM Plantations Bhd (IJMP) as it has managed to secure more than 90% of shares in IJMP after twice extending the mandatory takeover offer’s closing date. On its behalf, RHB Investment Bank announced that KLK had received valid acceptances under the offer and had acquired offer shares resulting in it holding 795.39 million shares, representing 90.33% of IJMP’s total issued shares. The bank said KLK did not intend to maintain IJMP’s listing status on Bursa Malaysia’s Main Market. To recap, KLK made a cash offer of RM3.10 for the remaining IJMP shares that it did not hold following the acquisition of shares that gave it 56.2% equity interest in IJMP. It subsequently extended the date for accepting the offer twice, first to Oct 25 and then to Nov 18.
