The offer is conditional upon OroGreen Investment and parties acting in concert with it achieving shareholding of not less than 90 per cent as at the close of the offer.
SK Jewellery said the offer presents shareholders with a clean cash exit opportunity to realise their investment in the shares at a premium over prevailing trading prices without incurring brokerage and other trading costs. The trading volume of the shares has also been low. Moreover, the company has not carried out any exercise to raise equity capital on the Singapore Exchange since its 2015 listing. It said it is unlikely to require access to the Singapore equity capital markets to finance its operations in the foreseeable future as it has various other available funding sources such as bank credit facilities.