SINGAPORE - The offer to buy Singapore's third-largest telco M1 has crossed a key threshold.
Keppel Corp, together with Singapore Press Holdings, currently holds 90.15 per cent of M1's shares through their joint venture firm Konnectivity, according to a Singapore Exchange filing on Wednesday (Feb 27).
This means that M1 will be delisted as the public float has fallen below 10 per cent. The mainboard-listed company no longer meets the free float requirement of the Singapore Exchange.
Shareholders who may not want to hold shares in an unlisted company should consider accepting Konnectivity's offer of $2.06 per share by March 18.