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Boustead yet to receive LTAT’s privatisation offer

29 May 2020 / 12:45 H.

PETALING JAYA: Boustead Holdings Bhd has not received any offer relating to the privatisation proposal from its majority shareholder the Armed Forces Fund Board (LTAT).

“Shareholders are advised to exercise caution and seek appropriate advice when dealing in the ordinary shares of the company, since there is no certainty that LTAT will proceed with the proposal,” Boustead said in a statement today.

LTAT has confirmed that it is considering a proposal to privatise Boustead. However, the move is subject to the finalisation of the structure, the requisite funding as well as the required regulatory approval for the proposal.

Should the privatisation proceed, LTAT expects to propose an indicative offer price of 80 sen per share in Boustead. However, the final offer price in relation to the proposal (if undertaken) is subject to finalisation by LTAT.

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