You are here

Pacific Star seeks listing via S$140m RTO with LH Group

Thursday, March 3, 2016 - 13:32

LH GROUP said on Thursday it plans to undergo a S$140 million reverse takeover (RTO) with real estate fund management company Pacific Star Development.

Singapore-based Pacific Star has invested on behalf of its institutional investors in several prime properties such as Wisma Atria, Ngee Ann City and Tripleone Somerset. It has two on-going mixed-use development projects in Iskandar Malaysia and Bangkok.

In backdoor listing, a listed company acquires the business of a private company and issues new shares to the existing shareholdings of this target company. The end result is that the target company eventually becomes a controlling shareholder of the listed entity.

sentifi.com

Market voices on:

Nespresso
Pair your daily business read with the perfect cup of espresso.

Subscribe to The Business Times today to receive your very own Nespresso Inissia coffee machine worth $188.

Find out more at btsub.sg/btdeal

Powered by GET.comGetCom