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Ajinomoto Proposes Privatization of Malaysian Unit

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Ajinomoto Co (TYO:2802) has proposed a selective capital reduction plan to take its listed Malaysian subsidiary, Ajinomoto (Malaysia) Berhad, private and delist it from Bursa Malaysia.

Under the proposal, shareholders other than Ajinomoto would receive 20 Malaysian ringgit per share in exchange for the cancellation of their holdings. The transaction would involve about 30.2 million shares and a total capital repayment of approximately 603.4 million ringgit, according to a company filing on Monday.

The proposal has been submitted to the board of Ajinomoto Malaysia, which will decide whether to proceed. Any transaction would be subject to necessary approvals.

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