Hovid gets approval for delisting from Main Market
Over the past financial year, Hovid has faced challenges such as higher operating costs and the revocation of its manufacturing licences, which impacted its financial performance. Hovid’s rationale for the proposed privatisation was due to these challenges, coupled with the challenging economic and changing market environment, which will likely remain for the immediate future.
PETALING JAYA: Pharmaceutical company Hovid Bhd 
has received approval for its delisting from the Main Market of Bursa Malaysia.
As such, and together with shareholders’ approval for the proposed withdrawal of its listing statue at an EGM on Nov 26, all conditions for the voluntary takeover have been fulfilled and the offer is now unconditional as at Dec 3.
According to a Bursa Malaysia filing, joint offerors Hovid managing director David Ho Sue San and Fajar Astoria Sdn Bhd hold 88.62%, or 732.1 million shares, as at Dec 3.
...
The content is a snapshot from Publisher. Refer to the original content for accurate info. Contact us for any changes.
Related Stocks
Comments