Sarawak Govt to take Sarawak Energy private
Written by The Edge FinancialDaily
Monday, 19 October 2009 12:45

KUALA LUMPUR: The Sarawak State Goverment plans to take its 64.65% owned Sarawak Energy Bhd private, pricing the shares at more than 20% above last traded share price, sources say.

Trading in Sarawak Energy was suspended from 9am on Monday, Oct 19. The 64.65% stake comprises of 987.537 million shares.

The other major shareholder in the companty is the Employees Provident Fund Bo with 77.948 million sahares or 5.10%.

Sarawak Energy was last traded at RM2.14.

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This was one of my impulsive buy in May 2009. Guess I was sort of being patriotic at that time
Any SARAWAK shareholders out there ? I am new to privatisation. Does this mean that the counter will not be open for trading any more ?

This post has been edited by whizzer: Oct 19 2009, 05:24 PM

Yup will be privatized no more listed in KLSE...You will get back about rm 2.56 per share

they will pay you to buy over your holding, at higher price??

no idea. It could be.

Great!! Should be automatic right. I mean, i dont have to fill any form or lodge anything.
Also, for those who already had experience privatisation. How long would it take ?
Was planning to reinvest in REITs so if wait too long, might miss the oppportunity.

20% higher than the last trading price.

BN afraid Sarawak Energy will fall into PR hands after next year's election?

I am wondering. If the price is already set at 20% higher (i.e. 2.65), why are there still people selling at 2.59 ?

This post has been edited by whizzer: Oct 20 2009, 09:43 AM

it's 20% higher than last traded, not fixed at 2.59.

they'll offer a price of 20% higher than the last trading price..... 20% untung ma

bro, u're wrong la. if that is the case, everyone would withdraw all money from their accounts n pour into sarawak energy coz its virtually a guaranteed 20%! edge says the offer is at a price more than 20% compared to last traded and the last traded price as of friday was 2.14. the offer stands at 2.65.

Sauce

reason y ppl are selling now at 2.59 is prolly coz they're not willing to wait until the exercise is over for a mere 6 cents diff. if i bought sarawak at 2.14, i wouldnt mind exiting now at 2.59 too instead of 2.65!

Sorry.. wrong typo in my posting

Based on previous privatisation. How long does it take ? 1 month, 2 month or 1 year ?
I notice that at 6cts diff, the return would be at 3%.

Also, is it possible for them to decide not to privatised ?