Caring Pharmacy to delist on May 8

Caring Pharmacy to delist on May 8
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KUALA LUMPUR (May 4): Caring Pharmacy Group Bhd will exit Bursa Malaysia on Friday (May 8) after six and a half years of being listed on the bourse’s Main Market.

This follows the completion of the takeover of Caring by 7-Eleven Malaysia Holdings Bhd, the pharmaceutical chain said in a filing today. 

7-Eleven Malaysia had launched a mandatory general offer to buy out Caring at RM2.60 per share. The takeover offer was made after the convenience store chain raised its stake in Caring to 38.57% from 13.22% previously.

Established in 1994, Caring opened its first outlet in Taman Muda Cheras. In 2019, it had more than 120 outlets.

Caring’s shares have been suspended since April 20. The stock was last traded at RM2.58.

Read also:
7-Eleven: No plans to merge operations with Caring Pharmacy
7-Eleven to delist Caring after MGO
7-Eleven Malaysia wants to hold more than 50% stake in Caring Pharmacy
What’s appealing about Caring?