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Founding family controls 99.2% of Sim Lian at close of delisting offer
PROPERTY firm Sim Lian Group said 99.2 per cent of all its shares are now held by the founding Kuik family at the close of the privatisation offer on Monday.
The company said in a regulatory filing that the family, through its investment vehicle Coronation 3G, will exercise the right to acquire all the shares held by the dissenting shareholders, and delist the company.
Coronation 3G had made a cash offer of S$1.08 per share for all the outstanding shares in Sim Lian that it did not already own. At the time of the offer in August, 3G had already controlled 80.36 per cent of Sim Lian.