Rex Industry Bhd Faces Takeover Offer
In a significant development for the Malaysian packaging industry, Rex Industry Bhd, a well-established company known for its diverse range of packaging materials, has received a takeover offer from its new major shareholder, ETA Industries Sdn Bhd. This offer, announced on June 13, 2025, proposes to acquire all remaining shares of Rex Industry at a price of 10 sen per share.
Key Details of the Offer
ETA Industries, which recently acquired a 40.59% stake in Rex Industry for RM26.81 million, has extended a conditional mandatory takeover offer to the remaining shareholders. This move follows the acquisition from Darmendran Kunaretnam and Daiman Taipan Sdn Bhd, as per the rules governing takeovers on the Bursa Malaysia exchange.
Financial Context
As of June 11, 2025, Rex Industry’s shares were trading at 0.1 MYR, with a 52-week high of 0.12 MYR and a low of 0.085 MYR. The company boasts a market capitalization of approximately 65.77 million MYR and a price-to-earnings ratio of 10.39. Known for its high-quality plastic, paper, and metal packaging products, Rex Industry has built a strong reputation over several decades.
Implications for Shareholders
Under the takeover rules, ETA Industries is required to extend this offer to all other shareholders of Rex Industry. This development could potentially reshape the company’s future, depending on the response from the remaining shareholders.
Conclusion
As the situation unfolds, stakeholders and market observers will be keenly watching the next steps in this takeover saga. The outcome could have significant implications for Rex Industry’s strategic direction and its position in the competitive packaging industry. More updates are expected as the process progresses.