{
  "id": 474742,
  "title": "Hextar Retail draws 43 sen offer from major shareholder",
  "url": "https://urgent.news/2026/08/10/hextar-retail-draws-43-sen-offer-from-major-shareholder",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-10T14:05:28.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/business/corporate/2026/08/1508401/hextar-retail-draws-43-sen-offer-major-shareholder"
  },
  "original_language": "en",
  "account": "KUALA LUMPUR: Hextar Retail Bhd has received a conditional takeover offer from its largest shareholder, Hextar Portfolio Sdn Bhd, at a price of 43 sen per share. Hextar Portfolio, which owns 30.6% of Hextar Retail, aims to acquire the remaining shares held by other shareholders, including Datuk Ong Choo Meng, who already owns a portion of the company. The company has 464.99 million shares in issue, with Hextar Portfolio controlling 142.29 million shares. The 43 sen offer is a 7.5% premium to the last traded price of 40 sen on August 7 and exceeds the five-day, one-month, three-month, and six-month volume-weighted average market prices by 7.8%, 7.4%, 3.8%, and 0.3% respectively. The offer is conditional upon Hextar Portfolio and Datuk Ong Choo Meng collectively owning more than 50% of Hextar Retail's voting shares. Hextar Portfolio mentioned that Ong Choo Meng and the person acting in concert with him have provided the highest offer price during the past three months. Ong Kook Liong, who holds a 0.6% stake, is considered to be in concert with Ong Choo Meng and Hextar Portfolio. Both Hextar Portfolio and Ong Choo Meng plan to maintain Hextar Retail's listing on Bursa Malaysia's Main Market. The company's shares closed at 40.5 sen, marking a 1.25% increase, resulting in a market capitalization of RM202.94 million.",
  "summary": "KUALA LUMPUR: Hextar Retail Bhd has received a conditional voluntary takeover offer from its largest shareholder, Hextar Portfolio Sdn Bhd, at a cash offer price of 43 sen apiece.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}