CEO-led group makes mandatory $1.30-a-share offer for Cityneon

Singapore

CITYNEON Holdings executive chairman and group CEO Ron Tan, together with Hong Kong entrepreneur and investor Johnson Ko Chun Shun, is looking to delist and take Cityneon private.

West Knighton, a special purpose vehicle indirectly owned by Mr Ko and Mr Tan, purchased an approximately 68.95 per cent stake in Cityneon Holdings from Lucrum 1 Investment, at S$1.30 per share, for S$219.3 million. As a result of the acquisition, West Knighton is required to launch a mandatory unconditional cash offer for the rest of all the shares.