Icon Offshore's share price jumped as much as 17pc after entry of new controllng shareholder, MGO

NST Wed, Mar 27, 2024 10:56am - 1 month View Original


KUALA LUMPUR: Icon Offshore Bhd's share price jumped as high as 17 per cent after it announced a new majority shareholder in the form of Yinson Holdings Bhd chairman Lim Han Weng, and the launch of a mandatory general offer (MGO).

As at 10.24am, its share price was trading 7.5 per cent higher at 78.5 sen a share.

Yesterday the company announced that Ekuiti Nasional Bhd's special purpose vehicle Hallmark Odyssey Sdn Bhd sold a 50.2 per cent controlling stake to Liannex Maritime Sdn Bhd of Singapore for RM172.7 million.

Hallmark has provided an irrevocable undertaking not to accept the offer for the remaining 5.8 per cent interest it owns in Icon Offshore.

Liannex Maritime is privately owned by Lim,  who is also a major shareholder of energy infrastructure company Yinson Holdings.

The deal has triggered a MGO for the remaining shares and warrants for 63.5 sen a share and RM0.001 a warrant in Icon Offshore.

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