AF Global raises stake in LCD Global Investments to 29.9%

THROUGH married trades, AF Global, a joint venture firm of Aspial Corporation and Fragrance Group, has raised its stake in LCD Global Investments by 0.6 per cent to 29.9 per cent - 0.1 per cent short of a general offer trigger.

But as of Wednesday, AF Global had already announced a voluntary conditional cash offer for LCD Global, a property investment holding firm, at 33 Singapore cents a share.

Aspial and Fragrance have teamed up to gain control of the firm from its biggest shareholder, JTrust Asia, which had acquired a 29.5 per cent stake of LCD Global at 30 cents per share last September.

On Thursday, LCD Global closed trading at S$0.335, an 11.67 per cent jump from the previous trading day.