Kuala Lumpur: Malaysia Airports Holdings Bhd (MAHB) has formally applied to Bursa Securities for its delisting from the Official List, adhering to Paragraph 16.07(a) of the Listing Requirements. The move comes after a significant acquisition by a consortium.

According to BERNAMA News Agency, Gateway Development Alliance Sdn Bhd (GDA) and its shareholders, collectively known as the consortium, announced they had secured valid acceptances amounting to 1.646 billion MAHB shares. This acquisition represents a substantial 98.68% of the total issued shares of the company as of 5 pm yesterday.

In an official statement issued on behalf of the consortium, AmInvestment Bank highlighted that the consortium plans to utilize Section 222 of the Capital Markets and Services Act 2007. This provision allows them to compulsorily acquire any remaining offer shares from dissenting shareholders, thereby facilitating the delisting process.

Since the consortium has surpassed the 90% shareholding threshold and does not intend to maintain MAHB's listing status, Bursa Malaysia Securities will proceed with suspending trading of MAHB's shares. This suspension is scheduled to take effect from February 20, following five market days after February 12.