Consistent Record Ups Offer Price for Low Keng Huat Purchase; Shares Up 5%
MT Newswires
Jan 14
Consistent Record increased the offer price for its proposed acquisition of all the shares in Low Keng Huat (Singapore) (SGX:F1E) to SG$0.78 per share in cash from SG$0.72 initially, according to a Wednesday filing with the Singapore Exchange.
Shares of the property developer were up over 5% in Wednesday trading.
The offer is expected to close on Feb. 13, with the offeror not looking to extend the offer beyond the final closing date.
Meanwhile, following the receipt of valid acceptances, the offeror and its concert parties now have an 81.53% stake in the company.
The offeror does not intend to preserve the company's listing status, the filing added.
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