<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Dec 11): Diversified group Sime Darby Bhd’s wholly owned subsidiary Sime Darby Enterprise Sdn Bhd (SDESB) has on Monday (Dec 11) issued Tranche 1 of its sukuk murabahah programme at an issue size of RM3 billion in nominal value.</p></div>

<div class=newsTextDataWrapInner><p>The first tranche, which will mature a year later on Dec 11, 2024, is to partly finance the acquisition of industrial conglomerate UMW Holdings Bhd.</p></div>

<div class=newsTextDataWrapInner><p>SDESB had established an unrated Islamic commercial papers (ICPs) and Islamic medium-term notes (IMTNs) programme, based on the shariah principle of murabahah, for the issuance of sukuk murabahah of up to RM10 billion, which is irrevocably and unconditionally guaranteed by Sime Darby.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Sime Darby had last Wednesday (Dec 6) said it would make an unconditional mandatory takeover offer to acquire the remaining 38.82% stake it does not own in UMW for a cash price of RM5 per share.</p></div>

<div class=newsTextDataWrapInner><p>At RM5, UMW is valued at RM5.84 billion, with the 38.82% stake valued at RM2.27 billion.</p></div>

<div class=newsTextDataWrapInner><p>Sime Darby closed two sen or 0.85% lower at RM2.34, with a market capitalisation of RM15.95 billion.</p></div>

<div class=newsTextDataWrapInner><p>Meanwhile, UMW was unchanged at RM4.96, valuing the group at RM5.79 billion.</p></div>

<div class=newsTextDataWrapInner><p><em>Read also:<br />
<a href="https://theedgemalaysia.com/node/692908" target="_blank">Sime Darby to make takeover offer for remaining stake in UMW Holdings</a></em></p></div>


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