ICP's (SGX:5I4) exit offer has become unconditional in all aspects, with the offeror receiving valid acceptances for 116,494,809 shares, according to a filing with the Singapore Exchange on Tuesday.
Before the privatization bid, the offeror and its concert parties collectively owned 60.20% of the company's issued shares. As a result of the acceptances, the offeror now holds 63.68% of ICP.
Aw Cheok Huat, the company's controlling shareholder, made a go-private offer of SG$0.009 per share in cash for all issued and paid-up ordinary shares of ICP.
The offer will remain open for acceptance until June 23, the filing stated.
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