UOL makes mandatory offer for SingLand as stake in UIC crosses 50%
Singapore
UOL Group Limited has announced a mandatory unconditional cash offer for all the shares in Singapore Land (SingLand) that it does not already own, at S$11.85 apiece in cash.
The obligation for UOL to make a mandatory offer for the privatised Singapore Land, of which United Industrial Corporation (UIC) now owns 99.683 per cent, was triggered under Singapore's takeover code after the stake of UOL and its concert parties(See amendment note) in UIC crossed 50 per cent.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
EU toughens rules on Chinese fashion retailer Shein
Keppel prices 70 million euros of floating-rate notes due 2031
Mixed trading in Asia as investors watch for further macro data; STI down 0.2%
Shareholders raise questions over dividend payout, directors’ salaries at Best World AGM ahead of proposed privatisation
China’s Bank of Communications Q1 profit rises 1.44%
Huawei’s smart car tech offers automakers route to China sales