Tat Hong to delist after buyout offer crosses 90% threshold
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The buyout offer by chief executive Roland Ng and the private equity arm of Standard Chartered crossed the 90 per cent threshold for valid acceptances last Friday.
PHOTO: THE BUSINESS TIMES
Marissa Lee
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SINGAPORE - Crane supplier Tat Hong will soon be delisted from the Singapore Exchange.
The buyout offer by chief executive Roland Ng and the private equity arm of Standard Chartered crossed the 90 per cent threshold for valid acceptances last Friday.
The offer has also turned unconditional and its closing date extended to 5.30pm on June 4.
Since Tat Hong's free float has fallen below 90 per cent, delisting is inevitable and shareholders who do not accept the exit offer of 55 cents per share will be stuck with illiquid shares.
