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Vincent Tan & Others to take Nexnews private

Nexnews Berhad, which owns The Edge, theSun and other smaller publications, today requested for a suspension of trading of its shares on Bursa Malaysia from 10.00 a.m. to 5.00 p.m. tomorrow, May 8.

The company said it has received notification from substantial shareholders, Net Edge Online Sdn Bhd and Vincent Tan Chee Yioun, that they intend to launch a voluntary general offer (VGO) for all the securities in Nexnews that they do not already own as at May 4, 2007.

The two substantial shareholders have indicated that they will serve a notice of takeover offer on Nexnews as soon as possible.

Canada-based Tong Kooi Ong is said to own 22.94% of Nexnews equities through Net Edge Online.

Nexnews was last traded at RM1.15, rising from RM0.75 over three trading days.

T. Anandakrishnan has started the ball rolling last week on Maxis. The Edge's cover-story this Monday was headlined: What is AK up to?

But it was Robert Kuok who first shifted his cheese from PPPB to Wilmar, from Malaysia to Singapore.

Posted by Jeff Ooi on May 7, 2007 01:58 PM |

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Comments

Is the beginning of a Bursa shutdown? Looks like those who are doing it are TDM loyalist. Or is it just a testament of their faith in this country?

Posted by: Daily Nibbler [TypeKey Profile Page] | May 7, 2007 02:47 PM

Big tycoons starts to bail their companies out from BSKL. I'm no Financial Expert but what is the best way to save anyone from taking most brutal damage when stock market starts to sink?

The best answer, NOT IN THE STOCK MARKET!!

Which leads me to the next question... What these big tycoons sees that we small peasant don't? Any theories?

Posted by: FireAce [TypeKey Profile Page] | May 7, 2007 05:58 PM

The moral of the story is, when someone move their cheese, you better move yours too cause soon, some other people will be coming after your piece of cheese. Its a case of too many rats chasing for too few cheese

Posted by: Southface [TypeKey Profile Page] | May 8, 2007 07:55 PM

INTERNET does not operate in a legal vacuum.
Read this before you post a comment in this blog!

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