Green Esteel eyes cash offer to acquire HG Metal shares

This excludes Treasury shares and shares already owned, controlled, or agreed to be acquired.

HG Metal Manufacturing Limited said in a bourse filing that Green Esteel Pte. Ltd. plans to make a mandatory conditional general cash offer to acquire all issued and paid-up ordinary shares of the company.

This excludes treasury shares and shares already owned, controlled, or agreed to be acquired by Green Esteel and its affiliates, in compliance with Rule 14 of the Singapore Code on Takeovers and Mergers.

In addition, the company also announced that Xandar Capital Pte. Ltd. has been appointed as the independent financial adviser (IFA) to advise the directors of the company who are considered independent for the offer.

Meanwhile, the company advised shareholders to exercise caution “when dealing in their shares and to refrain from taking any action in respect of their shares which may be prejudicial to their interests.”

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