LTAT mulls taking Boustead Holdings private

28 May 2020 / 21:55 H.

PETALING JAYA: Lembaga Tabung Angkatan Tentera (LTAT), or the Armed Forces Fund Board, has announced it is considering a proposal to privatise its 59%-owned unit Boustead Holdings Bhd.

“The proposal is subject to, amongst others, the finalisation of the structure of the proposal, the requisite funding for the proposal and the required regulatory approval(s),” it said in a statement today.

It highlighted that the announcement is not equivalent to a firm intention to undertake the privatisation, but should it move forward, it would do so at an indicative, non-binding price of 80 sen per share.

“The final offer price in relation to the proposal (if undertaken) is subject to finalisation by LTAT,” it added.

Boustead shares ended the day 4 sen higher at 63 sen, with 46.76 million shares done.

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