UEM Edgenta to receive 3.8% higher proceeds from sale of Opus International

September 13, 2017 | By | Reply More

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PETALING JAYA: UEM Edgenta Bhd will receive 3.8% higher proceeds from the sale of its 61.2% stake in Opus International Consultant Ltd (OIC), after the board of OIC announced a dividend payout of NZ$0.14 (43.8 sen) and WSP NZ Acquisition Limited upped its offer to NZ$1.85 per OIC share.

In a filing with Bursa Malaysia the group announced that it will now receive NZ$173.8 million (RM543.7 million) gross proceeds from the sale, rather than NZD167.4 million from the previous offer and dividend payout plan.

The revised offer and dividend payout brings the offer to NZ$1.92 for an OIC share. The offer price was adjusted to include the NZ$0.07 cash dividend paid. The group’s shares were halted from trading for an hour in the morning pending the announcement. The group’s stock hit a high of RM2.77 during the day and is currently trading 3.4% or nine sen higher, at RM2.74.

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