KUALA LUMPUR: Property-based Y&G Corp Bhd has proposed a four-into-one share capital reduction and to acquire three companies for RM164.14 million via issuance of new shares.

The company had on Thursday, Oct 28 proposed to reduce the share capital from RM51 million, comprising 51 million shares of RM1 each, into 51 million shares of 25 sen each. It proposed to consolidate four 25 shares into one share each.

It also proposed to acquire three companies -- Hala Kota Development Sdn Bhd, Teras Zaman Sdn Bhd and Beta Fame Sdn Bhd - for RM164.14 million via the issue of new Y&G shares of RM1 each.

The companies would be acquired from Kinta Aroma Sdn Bhd, Datuk Seri Yap Seng Yew, Datin Seri Gan Li Li, Datuk Yap Jun Jien Yap Jun Wei and Teh Mi Mi.