The exercise will be funded by advances from Boustead Holdings, which intends to use a mix of bank borrowings and internal funds. On March 3, BHIC’s non-interested directors resolved to present the proposal at an extraordinary general meeting (EGM) and specialised class meetings for preference shareholders. The privatisation, first announced on Feb 10, involves a total cash payout of RM149.59 million to minority shareholders, covering 155.86 million BHIC shares held by the public, and 155.8 million preference shares — comprising 23.63 million redeemable convertible preference shares (RCPS A) and 132.17 million Islamic redeemable convertible preference shares (RCPS-i A). The exercise will be funded by advances from Boustead Holdings, which intends to use a mix of bank borrowings and internal funds. Boustead Holdings itself was privatised in June 2023 via a voluntary takeover offer at 85.5 sen per share, valued at RM703.2 million.

Source: The Edge Markets March 03, 2026 12:45 UTC