KUALA LUMPUR (July 31): Petaling Tin Bhd said today its shares will be suspended with effect from Friday, following the takeover of the company by gaming tycoon Tan Sri Dr Chen Lip Keong.
Petaling Tin announced last week that Chen has received valid acceptances in respect of the takeover offer, resulting in him holding more than 90% of the total voting shares.
As at July 26, which was the closing date of the offer, Chen held a total of 95.2% of Petaling Tin shares.