CWG moves closer to delisting; Sinway-led consortium's holdings reach 96.91%

SINGAPORE - Real estate group CWG International is closer to a delisting.

Elidom Investment, a takeover vehicle jointly owned by Sinway Investment, H&H Wealth and Floriland Co, said late on Monday that it now controls some 641.6 million shares in CWG, or a 96.91 per cent stake.

Since the public float fell below 10 per cent on Feb 6, CWG is bound for a delisting.

Elidom Investment announced on Dec 28 last year that it planned to make a voluntary cash offer for CWG International at S$0.195 apiece.

The offer closes on March 19, at 5.30pm.