KUALA LUMPUR — Sunway Bhd’s proposed takeover of the entire 3.51 billion shares in IJM Corp Bhd will officially close on April 6 this year.
The company announced that IJM shareholders interested in the offer will have until 5 p.m. on April 6 to make their decisions, Bernama reported.
In addition, Sunway has designated its wholly owned subsidiary, Fortuna Gembira Enterpris, to receive the offer shares for the acquisition.
“The offer is contingent upon Sunway receiving valid acceptances, resulting in Sunway holding more than 50 per cent of IJM’s voting shares by the closing date,” Sunway stated in a filing to the stock exchange.
On January 12, Sunway made a conditional voluntary takeover offer to acquire the entire 3.51 billion shares in IJM Corp Bhd at a price of RM3.15 per share. “If the offer is fully accepted and there are no adjustments to the offer price, the total consideration for the takeover will amount to approximately RM11 billion. This will be financed through a mix of cash and the issuance of new ordinary shares in Sunway,” the company previously stated.
The deal is expected to be concluded by the third quarter of 2026.
At midday trading, shares of Sunway and IJM rose by one sen and two sen, respectively, to RM5.77 and RM2.70, with 6.68 million and 9.85 million shares exchanged. – February 3, 2026