MAS shares rise 10% on announcement of Khazanah offer

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By admin August 11, 2014 17:19

MAS shares rise 10% on announcement of Khazanah offer

Malaysia Airline System (MAS) shares rose as much as 10.4% on Monday after state fund Khazanah Nasional stated it will offer MYR0.27 per share for each share in MAS it does not already own, amounting to nearly MYR1.4 bn ($435 million), in order to fully privatize the airline as part of the government-mandated restructuring programme.

MAS shares were trading at MYR0.26 per share at 0101 GMT, 8.3% higher than the MYR0.24 when the stock was suspended on Friday.

Khazanah currently owns 69.37% of MAS, which is expected to announce its Q2 earnings on August 20th.

admin
By admin August 11, 2014 17:19