Tan Sri Ng Boon Thong made an offer to acquire remaining 22.14% stake in Amverton Berhad (KLSE:AMVERTON) for MYR 97 million on January 13, 2020. Tan Sri Ng Boon Thong made an offer to acquire 80 million shares for MYR 1.2 per share. The offer is not conditional upon any minimum level of acceptance of the offer shares. Tan Sri Ng Boon Thong holds 77.86% stake in Amverton Berhad. As of February 13, 2020, Tan Sri Ng Boon Thong collectively hold 328.8 million Amverton Berhad shares, representing 90.08% of the total issued shares of Amverton Berhad. Tan Sri Ng Boon Thong does not intend to maintain the listing status of Amverton Berhad on the Main Market of Bursa Malaysia Securities Berhad. The buyer may within four months of the date of the take-over offer, acquire remaining shares in any class in the Amverton Berhad, by issuing a notice to all holders who have not accepted the offer. The buyer may within four months of the date of the take-over offer, acquire remaining shares in any class in the Amverton Berhad, by issuing a notice to all holders who have not accepted the offer. As of March 3, 2020, Tan Sri Ng Boon Thong acquire tendered 72,900 shares of Amverton. Tan Sri Ng Boon Thong acquired 0.25 million shares on March 16, 2020. The Board of Amverton Berhad are of view that the offer is not fair but reasonable and accordingly recommend the shareholders to accept the offer. The offer will remain open for acceptances period of 21 days from the posting date or such later date as Tan Sri Ng Boon Thong may decide and HLIB may announce on offeror's behalf. The closing date will not be later than 60 days from the posting date. The offer will be deemed to be closed before closing date if the Tan Sri Ng Boon Thong has received acceptances for all the shares. The offer is subjected to notification from the Securities Commission. The offer will close on February 24, 2020. As on February 20, 2020, the offer period was extended and it will now close on March 9, 2020. As of March 9, 2020 offer period was extended to March 27, 2020. PHANG SIEW LOONG and WENDY TEH of Hong Leong Investment Bank Bhd acted as the financial advisor to Tan Sri Ng Boon Thong. Kenanga Investment Bank Berhad acted as independent advisor to Amverton Berhad. Tan Sri Ng Boon Thong completed the acquisition of an additional 20.35% stake in Amverton Berhad (KLSE:AMVERTON) for MYR 89.1 million on March 27, 2020. Under the offer, Tan Sri Ng Boon Thong acquired 74.3 million shares. The suspension of Amverton Berhad shares will be effective April 6, 2020.