Complications in Public Bank’s corporate exercise


MUCH has been said in the media about Public Bank Bhd’s (PBB) rare corporate exercise involving the proposed acquisition of 175.9 million shares in LPI Capital Bhd at an offer price of RM9.80 per share from the estate of the late Tan Sri Dr Teh Hong Piow and Consolidated Teh Holdings Sdn Bhd (Estate), announced last month.

The acquisition of a 44.15% interest in LPI also triggered a mandatory general offer (MGO) to acquire all the remaining shares not already owned by PBB at the same cash offer price, RM9.80 per share, subject to adjustments, if any.

Subscribe now and receive FREE sooka plan for 1 month.
T&C applies.

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Insight

Govt intervention won’t fix housing prices
The key to a future-ready civil service
Execution vital for MSME success
Should TNB bear cost of EV ‘charge’?
Directors under siege
Unsteady march towards NS
Rush for greener offices in Asia is leaving Hong Kong behind
High expectations for public-sector reforms
Elon Musk wants to cut US$2 trillion from the US budget
Crude oil’s Middle East risk premium fades, demand woes remain

Others Also Read