THE latest listed company to jump on the electronic manufacturing services (EMS) bandwagon is loss-making chicken egg producer LTKM Bhd . The company has become subject to a reverse takeover by an EMS player called Local Assembly Sdn Bhd which is based in Gelang Patah, Johor. LTKM is proposing to acquire 100% of Local Assemby at a price of RM336mil, to be paid by RM100mil in cash and 393.33 million new LTKM shares at an issue price of 60 sen each. Interestingly, a known corporate personality is in the picture as a shareholder of Local Assembly. There will also be a consolidation of two existing LTKM shares into one share.

Source: The Star April 16, 2022 11:40 UTC