San Teh offer crosses 90% shareholding threshold; compulsory acquisition next
Ng Ren Jye
Singapore
AN OFFER by the Kao family and 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.
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