KUALA LUMPUR: Malaysia Airports Holdings Bhd (MAHB) share price climbed to a new high of RM10.76 in the morning session after Kumpulan Wang Persaraan (Diperbadankan) (KWAP) accepted Gateway Development Alliance Sdn Bhd's (GDA) RM11 a share offer for shares it owns in MAHB.
KWAP and its affiliates sold 119.25 million shares, representing a 7.15 per cent stake in MAHB, to GDA, a consortium led by Khazanah Nasional Bhd.
At the time of writing, MAHB's shares were up 10 sen or 0.94 per cent to RM10.74, giving the company a market capitalisation of RM17.92 billion.
The counter opened at RM10.68 and fluctuated between a high of RM10.76 and a low of RM10.68 during trading so far.
According to a filing with Bursa Malaysia Securities on Jan 7, 2025, the shares were disposed of on January 6 at RM11 per share.
GDA, a consortium comprising the Employees Provident Fund (EPF), Khazanah, the Abu Dhabi Investment Authority (ADIA), and Global Infrastructure Partners (GIP), held a 75.73 per cent equity interest in MAHB as of 5pm on Jan 6.
This includes a 5.65 per cent stake transferred to the offerors but pending receipt of acceptance documentation.
With KWAP's acceptance, GDA's stake in MAHB has effectively increased to about 82.9 per cent.
The disposal by KWAP followed an extension of the deadline for accepting GDA's takeover offer, which was moved to January 17 from the original January 8 deadline. Apart from the extended closing date, all other details and conditions of the offer remain unchanged.
These include the offer price of RM11 per share and the acceptance condition of securing 90 per cent of the total issued shares of MAHB.