Pentamaster to list automated solution arm on HK exchange

PETALING JAYA: Pentamaster Corp Bhd (PCB) proposes to list its automated solution business, Pentamaster International Limited (PIL), on the main board of The Stock Exchange of Hong Kong Ltd (HKEX).

While the exact details of the proposed listing, including size and structure of the proposed share offer, the offer price and amount of proceeds to be raised, are yet to be determined, PBC did say that its equity interest in PIL is expected to reduce from 92.60% as at Aug 30, 2017 to 63.10% upon completion of the exercise.

The entire exercise comprises of a share award scheme for eligible employees of PIL and its subsidiaries; proposed listing of the PIL and proposed dilution of PCB’s equity interest in PIL.

Profit after tax attributable to owners of PIL amounted to RM17.77 million for the financial period ended June 30, 2017.

The proposals are subjected to approvals being obtained from the shareholders of PCB at an EGM to be convened.