Intisari Delima Sdn. Bhd. made an offer to acquire additional 66.99% of stake in Ornapaper Berhad (KLSE:ORNA) for RM 52.7 million on September 21, 2022. Intisari Delima is paying RM 1.06 per share. The Board of Intisari Delima approved the deal. The offer will close on November 2, 2022. As on October 27, 2022, Tender offer has been become unconditional and the expected completion date has been extended to November 10, 2022. TA Securities Holdings Berhad acted as financial advisor to Intisari Delima. MainStreet Advisers Sdn Bhd acted as financial advisor to Ornapaper Berhad.

Intisari Delima Sdn. Bhd. completed the acquisition of 20.44% of stake in Ornapaper Berhad (KLSE:ORNA) for RM 16.1 million on November 10, 2022.