KUALA LUMPUR, Aug 29 (Bernama) — Malaysian Airlines System Bhd (MAS) has requested for a suspension in the trading of its shares on Bursa Malaysia’s Main Market from 9am to 5pm today, pending a material announcement.
In a filing to the Bursa Malaysia, the company said its major shareholder, Khazanah Nasional Bhd, would make an announcement in relation to the details of a proposed restructuring of the airline.
MAS said the request for suspension was made under sub-paragraph 3.1(b) of Practice Note 2 on Requests for Suspension of the Main Market Listing Requirements of Bursa Securities.
Meanwhile, Bursa Malaysia, in a filing today, said it has approved MAS’ request for the suspension.
MAS’ shares were last traded at 25 sen as at 5 pm yesterday.
Khazanah Nasional, the Malaysian government’s strategic investment arm, which owns 69.4 per cent of MAS, earlier this month announced it would acquire the 30.4 per cent that it did not own under a share buy-back at 27 sen apiece that would cost RM1.38 billion to kick-start a restructuring process.