KUALA LUMPUR (July 26): YTL Corp Bhd plans to privatise 74.12%-owned subsidiary YTL e-Solutions Bhd via a share-exchange scheme. The scheme will give the latter's shareholders exposure to YTL Corp's diversified businesses.

In a statement to Bursa Malaysia, ICT entity YTL e-Solutions said YTL Corp intended to buy the remaining shares in YTL e-Solutions at 55 sen each. YTL Corp will issue new shares at RM1.65 each based on an exchange ratio of about 0.333 YTL Corp share for each YTL e-Solutions unit.

At 9:59am, YTL e-Solutions shares fell 0.5 sen or 0.9% to 54 sen for a market capitalisation of RM733.2 million. The stock saw 228,300 shares traded.

YTL e-Solutions said : "The board has deliberated on the notice and having considered the following do not intend to seek an alternative person to make a take-over offer for the offer Shares. The offer provides the opportunity for shareholders of YTL e-Solutions to own shares which are more liquid in the offeror.

"The offer provides shareholders of YTL e-Solutions the opportunity to reduce their exposure in a single industry in exchange for an investment in the diversified operations of YTL Corp and its subsidiaries, which has the added ability to pursue larger scale growth and development opportunities should they arise,"  YTL e-Solutions said.

YTL Corp's diversified businesses include power generation, water supply and property development. YTL Corp does not intend to maintain YTL e-Solutions' listing on Bursa Malaysia, according to YTL e-Solutions'