Ajinomoto (Malaysia) Bhd’s (AMB) parent company, Ajinomoto Co Inc (Ajico), has proposed to privatise the food seasoning manufacturer via a selective capital reduction and repayment (SCR) exercise at RM20 per share.

In a filing with Bursa Malaysia today, AMB announced that its board of directors received a letter from Ajico today notifying it of the proposal.

The proposed exercise...