KUALA LUMPUR (Jan 5): XiDeLang Holdings Ltd (XDL) says Navis Capital has approached the former’s major shareholder Hong Peng International Holdings Ltd to acquire its stake.
It said on Thursday that “Navis Capital had indicated their intention to acquire the entire shareholdings of Hong Peng in XDL during an informal discussion”.
Trading in the shares of XDL was voluntarily suspended from 2.30pm to 3.30pm following the announcement.
According to filings to Bursa Malaysia, the British Virgin Islands’ registered Hong Peng owns 240 million XDL shares or 60% as at Nov 11, 2009.
XDL share price was up one sen to 37.5 sen before trading was suspended.
It said on Thursday that “Navis Capital had indicated their intention to acquire the entire shareholdings of Hong Peng in XDL during an informal discussion”.
Trading in the shares of XDL was voluntarily suspended from 2.30pm to 3.30pm following the announcement.
According to filings to Bursa Malaysia, the British Virgin Islands’ registered Hong Peng owns 240 million XDL shares or 60% as at Nov 11, 2009.
XDL share price was up one sen to 37.5 sen before trading was suspended.
