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NuEnergy takeover turns unconditional

The Star·09/25/2025 23:00:00
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PETALING JAYA: Agrobulk Holdings Sdn Bhd’s takeover offer in NuEnergy Holdings Bhd has become unconditional as the former is currently holding more than 50% of NuEnergy’s shares.

Last month, solar energy firm NuEnergy received a conditional voluntary takeover offer from its single largest shareholder, fertiliser group Agrobulk, for its remaining shares at 60 sen a share.

At that time, Agrobulk owned 30.87% in NuEnergy.

At 60 sen per share, the offer is valued at RM78.35mil.

The offer price of 60 sen was at a 20% premium over NuEnergy’s five-day average price of 50 sen.

Despite the takeover offer, Agrobulk said it intends to maintain NuEnergy’s listing status on the Main Market of Bursa Malaysia.