TNB cross 90% threshold to privatise Integrax
09 Apr 2015 / 05:36 H.
PETALING JAYA: Tenaga Nasional Bhd (TNB) takeover offer for Integrax Bhd has crossed the 90% threshold in order for the national utility company to undertake a compulsory acquisition for the remaining voting shares of the port operator.
According to a filing with Bursa Malaysia, TNB managed to obtain 271.36 million shares, or 90.12% acceptances for its offer yesterday.
As a result, Integrax shares will be suspended from trading on April 21, 2015 prior to its de-listing from the stock exchange.