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China Everbright unit owns 72.04% of Ying Li, together with concert parties
THE mandatory unconditional cash offer by China Everbright unit, State Alpha, for Ying Li International Real Estate has closed.
The resultant shareholding of the offeror and parties acting in concert is 72.04 per cent.
State Alpha had on Apr 18 said that it was making an offer for the Chongqing-based property developer at S$0.14 per share. The offer was triggered after the offeror bought about 767.1 million shares, representing about 30 per cent of the shares in the company, from Newest Luck Holdings. This resulted in its stake, combined with parties acting in concert, becoming 58.91 per cent.
DBS is the financial adviser to the offeror.