These 18,629 shareholders collectively own MHB’s entire total issued and paid-up share capital, MHB chairman Datuk Kiat Swee Sung told reporters on Saturday. MHB’s listing exercise involves exchanging every one share in the company for 14 shares in the listed outfit, Matang Bhd. Of the 16% who have registered, they hold about 27% of MHB’s total issued and paid-up share capital. At least 10% of MHB shareholders have lost touch with MHB management too. The IPO will involve 130 million shares of 10 sen each, according to Matang’s draft prospectus.

Source: The Edge Markets November 07, 2016 01:48 UTC