MTD Capital shares 98.96% acquired by joint offerors

KUALA LUMPUR: About 98.96% of MTD Capital Bhd's shares have been acquired by the four joint offerors at the closing time of the unconditional takeover offer at 5pm on Friday, Mar 11.

In a Bursa filing on Friday, MTD Capital said the four joint offerors — Nikvest Sdn Bhd, Alloy Consolidated Sdn Bhd, Alloy Concrete Engineering Sdn Bhd and Alloy Capital Sdn Bhd — via Maybank Investment Bank Bhd, have acquired  244.94 million shares for a cash offer price of RM11 each.

MTD Capital is an investment holding company with interests in civil engineering and construction, infrastructure development, property development, manufacturing, energy, ports and waste management.

The group is expected to be delisted soon as the offer for its shares have received over 90% acceptance from its shareholders.