Sunway Bhd’s proposed takeover offer for all 3.51 billion shares in IJM Corp Bhd is set to close on April 6, 2026.
Sunway said IJM shareholders will have until 5 pm on April 6 to consider the offer, which is being received through its indirect wholly-owned subsidiary, Fortuna Gembira Enterpris.
The offer is conditional on Sunway receiving valid acceptances by the closing date that would give it more than 50% of IJM’s voting shares, the company said in a filing with Bursa Malaysia.
On Jan 12, Sunway proposed a conditional voluntary takeover offer for the entire 3.51 billion IJM shares at RM3.15 per share. If fully accepted and without adjustments, the total consideration would be about RM11 billion, to be paid through a combination of cash and new Sunway ordinary shares.
Sunway expects the proposed acquisition to be completed by the third quarter of 2026.
At the midday break, Sunway and IJM shares rose one sen and two sen, respectively, to RM5.77 and RM2.70, with 6.68 million and 9.85 million shares traded.
