In August, IJM Corp Bhd had secured its shareholders’ approval to dispose of the entire 56.2% stake in IJMP to KLK for RM1.53bil cash.(File pic shows an IJMP oil palm plantation.)亚马逊云账号（www.2km.me）提供aws账号、aws全区号、aws32v账号、亚马逊云账号出售，提供api ，质量稳定，数量持续。另有售azure oracle linode等账号.
PETALING JAYA: The mandatory general offer by Kuala Lumpur Kepong Bhd (KLK) to acquire all the remaining ordinary shares in IJM Plantations Bhd (IJMP) has been extended from 5pm on Oct 11 to 5pm on Oct 25.
On Thursday, RHB Investment Bank announced via Bursa Malaysia, about the extension of the closing time and date for the acceptance of the offer. The total shares held by KLK and parties acting in concert as at Oct 7 was 595.55 million shares or a 67.63% stake.
“Holders who wish to accept the offer are advised to refer to the offer document for the details, terms and conditions of the offer as well as the procedures for accepting the offer. Holders are also advised to carefully consider the Independent Advice Circular dated Sept 30, 2021 before making any decision,” it said.
In August, IJM Corp Bhd had secured its shareholders’ approval to dispose of the entire 56.2% stake in IJMP to KLK for RM1.53bil cash.
In a recent report, UOB Kay Hian Research said the acquisition of IJMP is expected to amount to RM3bil, which KLK will fund with bank borrowings.
The research unit also recommended IJMP’s shareholders to take up the offer from KLK at the offer price of RM3.10 per IJMP share, which it deemed to be fair.
Meanwhile, analysts highlighted that KLK’s plantation operations are expected to remain challenging amid rising cost and shortage of workers, which may translate into higher cost and lower yields.
However, this will be mitigated by the high prices of crude palm oil.