Corporate digest

Cityneon Holdings

THE closing of the buyout offer for Cityneon Holdings has been extended from 5.30pm on Dec 26 to the same time on Jan 9. The offeror is West Knighton Limited, a special purpose vehicle indirectly owned by Cityneon group chief executive Ron Tan and Hong Kong entrepreneur and investor Johnson Ko Chun Shun.

As at 5pm on Wednesday, the total shares owned, controlled or agreed to be acquired by West Knighton, as well as valid acceptances of the offer, amounted to 242 million shares or a 98.92 per cent stake in Cityneon, giving it enough control of the company to compulsorily acquire the rest of the shares and delist Cityneon.