KUALA LUMPUR (Nov 26): Brem Holding Bhd's majority shareholders, Brem Properties Sdn Bhd and Tan Sri Khoo Chai Kaa, have proposed to privatise the company via a share capital reduction (SCR). The RM1.20 offer price, it said, represents a 51.9% or 41 sen premium over Brem Holding’s last traded price of 79 sen on Nov 25. They added that they do not intend to maintain the listing status of Brem Holding. “Accordingly, we will request Brem Holding to make an application to Bursa Securities to delist Brem Holding and withdraw its listing status from the official list of Bursa Securities upon completion of the proposed SCR,” they said. Brem Holding shares were last traded 10 sen or 12.66% higher at 89 sen, valuing the group at RM292.79 million based on the company's 328.98 million issued shares.

Source: The Edge Markets November 26, 2021 16:48 UTC