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PCRD urged to make 'truly fair' bid in the event of privatisation

Call made by an institutional investor as stake held by Richard Li-controlled vehicles tops 86%; PCRD has clarified in May that it was not aware of any privatisation proposal

Published Wed, Jun 3, 2015 · 09:50 PM

Singapore

NOTING that Pacific Century Regional Developments (PCRD) was "reducing its free float rapidly" and appeared to be headed for privatisation, an institutional investor has called for a "truly fair" offer to be made to minority shareholders in the event of a delisting.

The call comes as vehicles controlled by Richard Li, son of Hong Kong tycoon Li Ka-shing, saw their stakes in the mainboard-listed investment holding group move close to the 90 per cent delisting threshold. PRCD are now also hovering at a near 13-year high.

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