Businessman makes offer for Blumont at 80% discount

Singapore

BUSINESSMAN Mark Wee Liang Yee has triggered a mandatory unconditional cash offer to buy out Blumont Group after acquiring from Ultimate Horizon a 50.8 per cent stake in the company.

The transaction was done through the purchase of some 14 billion shares at S$0.0004 each. As a result, it is making a similar offer for the shares it does not already own at the same price.