Cosco's takeover offer for Cogent turns unconditional

Singapore

THE S$1.02-a-share cash offer by Chinese shipping company Cosco Shipping International (Singapore) for Cogent Holdings has become unconditional with the offeror having received valid acceptances representing about 92.05 per cent of the total number of shares.

As a result, the percentage of Cogent Holdings' shares held in public hands has fallen below 10 per cent. Under the rules of the Singapore Exchange (SGX), this means trading in Cogent's shares will be suspended when the offer closes.