Oiltek submits application for secondary listing on Bursa Malaysia’s main market
This is intended to be undertaken together with a public offering in Malaysia
[SINGAPORE] Oiltek submitted an application for its proposed secondary listing on Bursa Malaysia’s main market on Friday (Sep 25) to the Securities Commission Malaysia.
This is intended to be undertaken together with a public offering in Malaysia, comprising a public issue of new shares in the company.
Such a public offering would consist of two parts: shares open for public application in Malaysia, and shares allocated to the Ministry of Investment, Trade and Industry (MITI)-approved Bumiputera investors via a private placement.
This offer is in addition to a private placement of existing shares to MITI-approved Bumiputera investors.
The final structure, size and issue/offer price of the proposed offering will be determined at a later date and “announced in due course”, Oiltek said on Monday.
The offering remains subject to the approvals of Bursa Securities, Bank Negara Malaysia and Malaysia’s Securities Commission, among other relevant authorities.
Oiltek’s shares will continue to be listed and quoted on the mainboard of the Singapore Exchange, which will remain the group’s primary stock exchange.
The counter ended 1.6 per cent or S$0.02 higher at S$1.25 on Friday.
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