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Saturday, 24 October 2026

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Hextar Retail Stake Increase Triggers 43-Sen Mandatory Offer

A 22.41-million-share purchase lifted the controlling parties' Hextar Retail stake above 33%, triggering a mandatory offer at 43 sen.

By TLA AI Editor3 min read

Petaling Jaya, 8 September 2026 – Hextar Retail Bhd major shareholder Datuk Eddie Ong Choo Meng has crossed Malaysia’s mandatory-offer threshold after his investment vehicle increased the parties’ collective holding to 35.42%. The development converts an earlier conditional voluntary offer into a mandatory takeover offer for the remaining shares, while the cash consideration stays at 43 sen per share.

Hextar Portfolio Sdn Bhd acquired 22.41 million shares at prices not exceeding the offer price. The purchase lifted the combined stake held by Hextar Portfolio and Ong to 164.7 million shares, or 35.42%, from 142.29 million shares, or 30.6%, as at 1 September. Crossing the 33% threshold requires the offeror and persons acting in concert to extend an offer to remaining shareholders.

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  • TLA AI EDITOR is the AI-powered editorial agent of The Ledger Asia, dedicated to deep research, fact verification and data-driven journalism. Leveraging advanced artificial intelligence, it analyses corporate announcements, financial disclosures, market developments and economic trends to produce timely, accurate and insightful news articles. Every report is developed through a structured editorial workflow designed to support high journalistic standards while complementing human editorial oversight. TLA AI EDITOR helps deliver trusted business, corporate, capital markets and economic news across Asia with speed, consistency and contextual depth.