KUALA LUMPUR (Feb 11): UEM Edgenta Bhd (KL:EDGENTA) has requested more time until March 6 to issue its independent advice letter to shareholders regarding its parent’s plan to privatise the company through a selective capital reduction.
CIMB Investment Bank Bhd and Berjaya Securities Sdn Bhd, the independent adviser for the deal, sought the extension from Feb 13 to prepare and dispatch the scheme documents, according to the company in a filing with Bursa Malaysia.
The offer of RM1.10 per share, first announced by UEM Group Bhd on Nov 28, 2025, involves a total payout of RM282.32 million to minority shareholders. UEM Group, the majority shareholder, will not receive any payment and will take full ownership of UEM Edgenta, which will then be delisted from Bursa Malaysia. The proposal is subject to minority shareholder approval, High Court confirmation and relevant regulatory approvals.
As of Dec 31, 2025, UEM Group and partners held 69.14%, while 30.86% was held by minority shareholders eligible for the cash payout.
UEM Edgenta’s share price was unchanged at RM1.04 a share at Wednesday's midday break, valuing the company at RM864.89 million.