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KUALA LUMPUR (June 3): Tycoon Tan Sri Syed Mokhtar Albukhary is looking to take MMC Corp Bhd private via a selective capital reduction (SCR) for RM2 per share. In a bourse filing, Syed Mokhtar’s vehicle Seaport Terminal (Johore) Sdn Bhd (STJSB), which owns 51.76% or 1.58 billion shares in MMC, announced that it would be conducting the exercise for the 1.47 billion shares or 48.24% stake it does not own in the company. In total, STJSB would be.
Aluminium Holdings Bhd is proposing to undertake a bonus share issuance of 4.038 billion new shares on the basis of one bonus share for every one existing share held, on a yet-to-be-determined entitlement date.
The company, which is Southeast Asia s largest aluminium smelter, said in a statement the bonus issue is to reward shareholders for their loyalty and continuous support as well as allow them to have greater participation in the group s equity while retaining their precentage of equity interest.
The shares will also become more affordable and appealing to a wider group of investors, which could improve the liquidity and marketability of the shares.