KUALA LUMPUR, June 7 -- Ancom Nylex Bhd is seeking to take full ownership of its former subsidiary, Nylex (M) Bhd, following the latter's delisting from Bursa Malaysia in March this year.

According to The Edge, the proposal involves a selective capital reduction and repayment exercise, with entitled shareholders set to receive a total capital repayment of RM5.3 million, or 5.1 sen per share, in cash. The exercise is to be carried out by Ancom Nylex and its wholly owned unit, Rhodemark Development Sdn Bhd.

The two entities, which currently control 42.21 per cent of Nylex, will become the sole shareholders upon completing the plan.

The offer price of 5.1 sen per share for the remaining 103.89 million shares, representing a 57.79 per cent...