Pen­ta­mas­ter to list au­to­mated so­lu­tion arm on HK ex­change

The Sun (Malaysia) - - SUNBIZ -

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.

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