Malaysia Airlines’ parent to de-list national carrier
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Malaysian Airline’ state-owned parent company, Khazanah Nasional Bhd, has confirmed plans to take full ownership of the national carrier and remove it from the Bursa Malaysia stock exchange.
On Friday, Khazanah Nasional issued a statement saying that it has submitted a formal request to the MAS board of directors to undertake a capital reduction and repayment exercise of the airline’s shares, in preparation for the de-listing.
“We have received notice of Khazanah’s intentions to take full ownership and delist Malaysia Airlines,” MAS said in a statement.
“Our board of directors will be deliberating this proposal and an official response from the company will be issued later. During this period, our business operations remain unchanged.”
Under the repayment process, minority shareholders will receive MYR0.27 (8 US cents) per ordinary share, amounting to a total pay-out of MYR1.38 billion (US$430 million).
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