KUALA LUMPUR: Ajinomoto (Malaysia) Bhd
‘s controlling shareholder is proposing to privatise and subsequently delist the Main Market-listed company via a selective capital reduction and repayment exercise valued at RM603.4mil or RM20 a share.
Ajinomoto Co Inc, a 50.38% stakeholder in the monosodium glutamate producer, said the proposed privatisation will allow minority shareholders to exit and realise their holdings in the company at a premium.
It added that trading liquidity in the share has historically been very low with an average daily trading volume of about 38,715 shares for the past five years, making it difficult for shareholders to realise their investments.
The privatisation and delisting will also enable Ajinomoto Malaysia to have greater flexibility to pursue its business objective and enhance operational efficiency.
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