KUALA LUMPUR, Feb 3 — Sunway Bhd’s proposed takeover offer of the entire 3.51 billion shares in IJM Corp Bhd will close on April 6 this year.

Sunway said IJM shareholders who are interested will have the time to consider starting today until April 6 at 5pm.  

Apart from that, the company has nominated its indirect wholly-owned subsidiary, Fortuna Gembira Enterpris, as the recipient of the offer shares for the proposed acquisition

“The offer is conditional upon Sunway having received, on or before the closing date, valid acceptances resulting in Sunway holding in aggregate more than 50 per cent of the voting shares in IJM,” it said in a stock exchange filing.

On January 12, Sunway proposed a conditional voluntary takeover offer to acquire the entire 3.51 billion shares in IJM Corp Bhd at an offer price of RM3.15 per share. 

“Assuming full acceptance of the proposed offer and no adjustments are made to the offer price, the total consideration for the proposed offer will be approximately RM11 billion, which will be satisfied via a combination of cash and the issuance of new ordinary shares in Sunway,” it said previously.

The company said the proposed offer is expected to be completed by the third quarter of 2026.

At the lunch break, both Sunway and IJM counters rose one sen and two sen, respectively, to RM5.77 and RM2.70, with 6.68 million and 9.85 million shares traded. — Bernama