Maxim Global Berhad (KLSE:MAXIM) entered into an agreement to acquire 13.11% stake in Maxim Holdings Sdn Bhd from Sanlens Sdn. Bhd for MYR 15.6 million on April 13, 2023. Maxim Global Berhad will satisfy the purchase consideration through MYR 9,045,094.96 cash and issuance of 28.5 million shares at the issue price of MYR 0.23 each. Maxim Global will pay MYR 6.555 million at completion by allotment and issuance of shares and the remaining MYR 9,045,094.96 will be paid in cash within a period of 3 years from completion of transaction. The cash part will be funded wholly via internally generated funds, as at December 31, 2022 Maxim Global has cash and cash equivalent amounting to MYR 234.82 million. MHSB will assume MYR 151.777709 million owing by Maxim Holdings to its directors and outgoing creditors. The transaction is expected to close in third quarter of 2023. As at August 4, 2023, shareholders of Maxim Global approved the acquisition of Maxim Holdings. UOB Kay Hian (Hong Kong) Limited acted as financial advisor to Maxim Global Berhad.

Maxim Global Berhad (KLSE:MAXIM) completed the acquisition of 13.11% stake in Maxim Holdings Sdn Bhd from Sanlens Sdn. Bhd on August 11, 2023.