Boustead Plantations suspends share trading amidst speculation on stake disposal

BOUSTEAD Plantations Bhd has announced the suspension of trading in its shares, effective from 9:00am tomorrow.

The company, however, has not provided specific reasons for the suspension.

In a stock exchange filing today, the company said the trading in structured warrants relating to it will also be suspended at the same time.

Earlier reports in June indicated that Boustead Holdings Bhd was considering the sale of its 57% stake in its plantation subsidiary, Boustead Plantations.

According to The Edge Weekly, notable bidders for the stake include YTL Group, Wilmar International, IOI Corp Bhd, and Kuala Lumpur Kepong Bhd.

Industry analysts have speculated that the substantial landbank under Boustead Plantations’ purview could potentially fetch a considerable amount, estimated to be up to RM3 billion. – TMR