OSK Holdings extends PJ Development takeover offer to Oct 25

KUALA LUMPUR (Oct 6): OSK Holdings Bhd has extended its offer to the remaining shareholders of PJ Development Bhd by two weeks to Oct 25.

In a stock exchange filing by PJ Development, the privatisation exercise's adviser RHB Investment Bank Bhd said OSK Holdings owned 495.895 million or 94.62% of PJ Development's shares as at market close today.

As for PJ Development's warrants PJDEV-WC, a total of 120.198 million or 85.19% were already held by OSK Holdings.

OSK Holdings, controlled by tycoon Tan Sri Ong Leong Huat, made a fresh takeover offer for PJ Development in September at RM1.50 a share, and 50 sen for each PJDEV-WC warrant.

OSK Holdings owned more than 89% of PJ Development prior to this. It had launched an earlier takeover offer last year, albeit with no intention of de-listing PJ Development. — theedgemarkets.com

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