If there’s 75% acceptance from shareholders, all Maxis shareholders can expect a windfall from their initial investment in one of the nation’s largest mobile telecommunication company.

Ahh…it’s also time to call up my friends who work beside the Twin Towers.

Sourced from The Star Online…

Minority shareholders of Maxis Communications Bhd stand to make a handsome profit from the company’s privatisation exercise after T. Ananda Krishnan offered to buy their shares back at RM15.60 each.

This means that an investor who had bought 1,000 Maxis shares at RM13 each just before trading was suspended on Monday will make RM2,600, or a 20% gain on his investment.

Those who bought the same number of shares in Dec 29, when each share was at RM10.20, would make a RM5,400 or 53% gain.

Maxis, whose initial public offer was priced at RM4.36, was listed on Bursa Malaysia on July 8, 2002. If a shareholder had kept his shares from that time, his gain would be 301%, including dividend payments.

However, the shareholders would only realise their gains if Binariang GSM Sdn Bhd, a company set up for this exercise, gets 75% acceptance from shareholders, or an additional 15.5% of minority shares.

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