KUALA LUMPUR (dpa) – Shares in Malaysia Airlines (MAS) traded on the stock market for the last time Friday ahead of the company’s delisting.
Data from the Bursa Malaysia showed MAS shares were priced at 0.265 ringgit (0.07 dollars) per share, a tad lower than the 0.27 ringgit per share buyout offer of the state sovereign wealth fund Khazanah Nasional Berhad.
Stockbrokers said demand for MAS shares outstripped what sellers offered.
Khazahah, which is the majority owner of the ailing national carrier, will begin buying back MAS shares starting next week as part of an ambitious plan to revive the airline.
The government, through Khazanah, plans to infuse six billion ringgit into MAS in a five-year rehabilitation plan aimed at bringing the airline back to profitability.
MAS has been reeling from losses during the past few years due to stiff competition and high operating costs.
Its financial condition worsened after it was hit by twin tragedies this year.