KUALA LUMPUR (Nov 25): Trading in PJ Development Holdings Bhd's (PJD) shares will be suspended effective next Tuesday, following the closing of OSK Holdings Bhd's takeover offer for the shares it does not own in the company on Monday.

"Kindly be advised that trading in the company's securities will be suspended with effect from 9am, Tuesday, Nov 29, 2016, pursuant to Paragraph 16.02(3) of the Main Market Listing Requirements," it said in a bourse filing today.

Earlier this week, PJD said OSK holds approximately 90.11% of its issued and paid up share capital (excluding treasury shares), after the closing of the offer.

OSK had initially offered to acquire shares in PJD for RM1.56 per share and 60 sen per warrant and had ended up with a total shareholding of 89.29%, just below the 90% threshold.

The group then launched a fresh takeover offer for PJD's shares at RM1.50 per share and 50 sen per warrant.

At 4.06pm, PJD's share price was unchanged at RM1.50. Its market capitalisation was RM793.27 million.