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CWG moves closer to delisting; Sinway-led consortium's holdings reach 96.91%
REAL estate group CWG International is closer to a delisting.
Elidom Investment, a takeover vehicle jointly owned by Sinway Investment, H&H Wealth and Floriland Co, said late on Monday that it now controls some 641.6 million shares in CWG, or a 96.91 per cent stake.
Since the public float fell below 10 per cent on Feb 6, CWG is bound for a delisting.
Elidom Investment announced on Dec 28 last year that it planned to make a voluntary cash offer for CWG International at S$0.195 apiece.
The offer closes on March 19, at 5.30pm.