KUALA LUMPUR (April 20): Iskandar Waterfront City Bhd (IWCity) fell 2.33% in early trade this morning after it requested for more time to deliberate on the proposed merger with its major shareholder Iskandar Waterfront Holdings Sdn Bhd (IWH).

At 9.07am, IWCity fell 7 sen to RM2.94 with 652,000 shares traded.

IWCity said IWH has agreed to extend the original due date for one more month from April 19 to May 5 for its board to revert with its decision on whether the board is agreeable to put forward the proposed merger to the shareholders.

On March 8, IWH had proposed a one-for-one merger offer to take up the remaining 61.7% equity in IWCity at an offer price of RM1.50 per IWCity share. — theedgemarkets.com

For more stories, download TheEdgeProperty.com pullout here for free.

SHARE
SPONSORED CONTENT
Iringan Bayu—Freehold Landed Homes Where Comfort Meets Nature

Here, your vision of a dream home finds its true form: lush landscapes meet safe, exclusive living, with modern amenities and connectivity at hand.

read more
RELATED POSTS
  1. Ekovest’s RM450m merger deal with Knusford lapse after third deadline extension expires
  2. Iskandar Waterfront City gets six-month extension to submit regularisation plan
  3. Iskandar Waterfront City unveils regularisation plan to convert debt into equity, issue new shares