Bursa Malaysia will suspend trading in MKH Bhd shares on the Main Market five market days after the extended closing date of Batu Kawan Bhd’s unconditional mandatory takeover offer for the property developer.
In a filing with Bursa Malaysia on behalf of Batu Kawan and MKH, Maybank Investment Bank Bhd said the suspension would follow valid acceptances reaching at least 90% of the nominal value of the offer shares as at 5pm yesterday.
Batu Kawan, Whitmore Holdings Sdn Bhd and parties acting in concert had increased their combined stake in MKH to 95.16%, or 548.84 million shares, as at 5pm.
Having crossed the 90% threshold, Batu Kawan and its ultimate offeror will invoke Section 222(1) of the Capital Markets and Services Act 2007 to compulsorily acquire the remaining offer shares from dissenting shareholders. The suspension means MKH shares will no longer be traded on Bursa Malaysia.
The offeror and ultimate offeror will then take the necessary steps to withdraw MKH’s listing from Bursa Malaysia’s official list, in accordance with Paragraph 16.07 of the Listing Requirements, the filing said.
The takeover offer will remain open for acceptances until 5pm on Oct 8, 2026. Batu Kawan is offering RM2 per share to acquire the remaining shares in MKH.
