KUALA LUMPUR: Beshom Holdings Bhd (Beshom) will take over the listing status of Hai-O Enterprise Bhd under a corporate exercise where Beshom will focus on multi-level marketing, manufacturing, property while Hai-O will concentrate on wholesale and retail business.
In a statement to Bursa Malaysia on Tuesday, Hai-O said the corporate exercise will also involve a proposed share exchange of up to 300.29 million shares in Hai-O with new Beshom shares on a one-for-one basis.
Upon completion of the proposed share exchange, Beshom – which was incorporated for the corporate exerecise – will become the new holding company of Hai-O Enterprise and its subsidiaries.