Bourse OKs Milux's Listing of 221 Million New Shares

MT Newswires Live08-21 13:59

Bursa Malaysia has approved the listing and quotation of 220.6 million new Milux (KLSE:MILUX) shares to be issued for its proposed acquisition, according to a Friday filing.

Earlier, Milux signed a conditional deal to acquire 100% of Movon for 150 million ringgit, to be satisfied via issuance of 220.6 million new Milux shares at 0.68 ringgit each.

The approval is subject to Milux and Maybank Investment Bank complying with the Main Market Listing Requirements, notifying Bursa upon completion, and providing confirmation of compliance and a certified copy of the shareholders' approval.

The proposed acquisition remains subject to shareholder approval.

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