PETALING JAYA:The listing of Minda Global Bhd, through the takeover of Asiamet Education Group Bhd’s slot on Bursa Malaysia’s Main Market, has been deferred.
Asiamet told the stock exchange via Maybank Investment Bank that the listing, which was scheduled for February 15, will be “deferred to a later date to be advised.”
The group has embarked on a share exchange exercise entailing one Minda Global share for every existing Asiamet shares and will proceed with the transfer of listing upon completion of the share exchange.
Minda Global had received the approval of Bursa Malaysia Securities on January 19, for its admission on to the bourse.
Meanwhile, Asiamet which was formerly known as Masterkill will be delisted from the stock exchange.
The education group’s shares has been suspended since February 5.
In an announcement dated December 5, 2016, the group said that share exchange and transfer of listing was to facilitate its internal reorganisation and establish a new corporate structure as part of its plan to re-brand and re-position itself by streamlining its business operations.