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Article: Binaik fourth to be taken private this year

Article from:
New Straits Times
Article date:
April 23, 2009
Copyright

New Straits Times
04-23-2009
Binaik fourth to be taken private this year
Edition: Main/Lifestyle
Section: Business Times
Type: Company

BINAIK Equity Bhd, a property developer, is set to be taken private in a deal worth some RM19 million, making it the fourth company that wants its shares to be taken off Bursa Malaysia this year.

Minority shareholders will be offered 75 sen a share, 23 per cent higher than its last closing price of 61 sen on Monday.
The stock was suspended from Tuesday and will resume trading today.

Binaik's major shareholder, Yeo Brothers Sdn Bhd (YBSB), has sent a letter to the board, asking the company to consider the privatisation.

The main reason for this is the poor ...

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