KUALA LUMPUR (July 27): Trading of Boustead Heavy Industries Corporation Bhd (KL:BHIC) shares will be suspended on Aug 7, 2026 as the company moves forward with its selective capital reduction and repayment (SCR) exercise, which will lead to its privatisation and delisting from Bursa Malaysia, according to its filing on Monday.
Minority shareholders will receive a 48 sen per share cash payout, totalling RM149.59 million, with the entitlement date set for Aug 10. The last trading day for BHIC shares is Aug 6 at 5pm.
BHIC received a privatisation proposal from its major shareholder, Boustead Holdings Bhd (BHB), on Feb 10, 2026. The exercise was approved by shareholders and preference shareholders on April 29, 2026, followed by a High Court approval on July 1, 2026.
Upon completion, BHB, which currently owns 72.38% of BHIC directly and 74.71% together with Armed Forces Fund Board (LTAT), will become the sole owner of BHIC, paving the way for the company’s delisting from Bursa Malaysia.
Listed on Bursa Malaysia’s Main Market since 2007, BHIC is the latest LTAT and BHB-linked company to be delisted. BHB was taken private in June 2023, followed by Boustead Plantations in January 2024.