KUALA LUMPUR – Hong Leong Investment Bank Bhd (HLIB) has recommended Malaysia Airports Holdings Bhd’s (MAHB) shareholders to accept the offer made by the joint offerors to acquire the remaining ordinary shares in MAHB not already owned by them at a cash offer price of RM11 per offer share.
In an Independent Advice Circular (IAC) filed on Bursa Malaysia today, MAHB said premised on the evaluation of the offer as set out, HLIB is of the view that the offer is “not fair” but “reasonable”.
The offer price represents a premium ranging from 60 sen (5.77%) to RM3.02 (37.78%) over the last traded market price of MAHB shares as at the pre-conditional offer announcement’s latest trading date (LTD), and the five-day, one-month, three-month, six-month and one-year volume-weighted average market price (VWAMPs) up to and including the pre-conditional offer announcement LTD.
“However, the decision to be made would depend entirely on the risk appetite and specific investment requirements of the holders.
“If the holders so wish and if the trading liquidity permits, they may consider disposing of their offer shares in the open market if they are able to obtain a price higher than the offer price, net of transaction costs and assuming that there will not be any revision to the offer price,” it said.
According to HLIB, holders are advised to closely monitor the market share price, trading volume and any press releases and/or announcements made in relation to the offer before making a decision on the course of action to be taken in respect of the offer shares, MAHB said. – December 20, 2024