Karambunai Corp Bhd (Short name: KBUNAI or stock code: 3115) has been taken private and was delisted on November 21 this year (here).
Minority shareholders, who have not accepted the offer and are now stuck with the shares, can still sell off the stock by accepting the offer to buy from the major shareholder. The deadline is February 5, 2020. (here)
Follow the guidelines laid down here. In brief, you need to do the following:
1. Accept the offer as per the Shareholder's Notice
2. Transfer the shares to the offeror by submitting a transfer request at your stockbroker.
3. Mail the duly completed Shareholder's Notice and a copy of the processed transfer request to the registrar, BINA MANAGEMENT (M) SDN BHD before February 5, 2020.
KBUNAI was the second company that Dr. Chen has taken private. The first company was PTGTIN. Dr. Chen, who made his fortune from his casino venture in Cambodia, is reported to have a substantial stake in another listed company, FACBIND. Will this be the next target to be privatized? We will wait and see. Go here to read more about this interesting businessman who is in "the springtime of his business career".
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