YTL Industries offers to acquire YTL Cement

YTL Industries offers to acquire YTL Cement
Published: 19 December 2011

YTL Industries Bhd, a wholly-owned subsidiary of YTL Corp Bhd, has made a conditional share exchange offer to acquire the entire equity interest and all outstanding irredeemable convertible unsecured loan stocks in YTL Cement Bhd.

The offer would be through the issuance of ordinary shares of 10 sen each in YTL Corp at an issue price of MYR1.42 each.

In a filing to Bursa Malaysia today, YTL Corp said the relatively low trading activity on YTL Cement shares did not present shareholders with the necessary platform to maximise the value of their investments in YTL Cement via a continued listing on Bursa Securities.

The proposed offer is a viable way to provide YTL Cement shareholders more liquidity for their investment in YTL Cement shares by exchanging for YTL Corp shares.