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PETALING JAYA: (Feb 19) Sunway Bhd has disclosed dealings in its shares and those of IJM Corp Bhd by several institutional parties during the offer period of its conditional voluntary take-over.
In a filing dated today (Feb 19), Sunway said the disclosure was made pursuant to Subparagraph 19.05(1) of the Rules on Take-Overs, Mergers and Compulsory Acquisitions issued by the Securities Commission Malaysia. The requirement mandates parties connected to an offer to report dealings in the relevant securities during the offer period.
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According to the announcement, the parties that dealt in Sunway shares and IJM shares are the Employees Provident Fund Board, Malayan Banking Bhd group and UBS AG and its affiliates. Details of the transactions, including the number of shares and prices transacted, were set out in the accompanying attachments to the filing.
The company did not provide additional commentary on the transactions. Such disclosures are procedural in nature and are required to ensure transparency during an active takeover exercise, particularly where institutional shareholders and financial institutions are involved.
Sunway had earlier announced the conditional voluntary take-over offer in January. During the offer period, any dealings by certain connected parties—including substantial shareholders, financial advisers and related entities—must be publicly disclosed in accordance with the takeover rules.
The latest announcement does not indicate any revision to the terms of the offer. Instead, it serves as a regulatory update to inform the market of transactions carried out by the named institutions during the relevant period.
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