Cityneon could face cash offer as majority shareholder gets new majority owner

Singapore

MAINBOARD-LISTED events and exhibitions firm Cityneon Holdings may face a possible cash offer as its majority shareholder Lucrum 1 Investment Limited, which holds a nearly 70 per cent stake in Cityneon, changes ownership.

Even if that occurs, however, the firm's management and future plans should not be affected, Cityneon executive chairman and chief executive Ron Tan, who is also a Lucrum 1 shareholder, told The Business Times.

Mutual Power - an indirect wholly owned subsidiary of Hong Kong-listed Teamway International Group Holdings - had on Monday signed a memorandum of understanding (MOU) to acquire a 76 per c…