Cash offer for San Teh closes, company shares suspended pending delisting

  • 📰 BusinessTimes
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 51%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Read more at The Business Times.

AN offer by the Kao family and its concert parties for all shares of property firm San Teh at S$0.28 apiece in cash closed on Thursday, after the offeror acquired 95.38 per cent of the company's shares.

The family - whose members include directors, and the chairman and CEO of San Teh - has crossed the 90 per cent shareholding threshold, triggering a compulsory acquisition. San Teh has on Friday morning requested for its shares to be suspended. It had on Nov 1 applied to delist from the Singapore Exchange.from Oct 24 to Nov 7 after managing to garner only 89.83 per cent of San Teh's shares.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 15. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines