KUALA LUMPUR, June 26 — The Armed Forces Fund Board (LTAT) said there has been no material development with regards to the possible privatisation of Boustead Holdings Bhd (BHB).
LTAT is the controlling shareholder of BHB.
In a statement, it said the privatisation proposal is subject to, among others, the finalisation of the structure of the proposal, the requisite funding and regulatory approvals.
On May 28, the LTAT said it was mulling a proposal to privatise the company at an offer price of RM0.80 per ordinary share.
This offer price, however, is indicative only and non-binding, it said.
“We wish to highlight that this notification does not amount to a firm intention that we will undertake the proposal. Accordingly, there is no certainty that we will proceed with the proposal,” it added. — Bernama
