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GuocoLand (Malaysia) to Suspend Trading on July 30 Ahead of Privatization

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GuocoLand (Malaysia) (KLSE:GUOCO) will suspend trading on July 30, ahead of the implementation of its privatization, via a selective capital reduction and repayment exercise, according to a Thursday Malaysian bourse filing.

The privatization date has been fixed for July 31, with entitled shareholders to receive 1.10 ringgit in cash for each GLM share held on that date.

The cash consideration is scheduled to be paid on Aug. 7, after which the company's entire issued share capital will be cancelled.

Following the privatization, GuocoLand (Malaysia) will be delisted from the Main Market of Bursa Malaysia Securities, it said.

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