Elidom Investment says it does not plan to increase offer price for CWG

ELIDOM Investment, the entity making a voluntary cash offer for CWG International at S$0.195 per share, on Tuesday said it "does not intend to increase the offer price".

The offeror has not received the required acceptances to exercise a compulsory acquisition yet. To do so, it needs valid acceptances of at least 97.54 per cent of the total number of issued shares.

As at 5pm on March 6, it had received valid acceptances of only about 96.97 per cent.

Elidom Investment is a takeover vehicle jointly owned by Sinway Investment, H&H Wealth and Floriland Co.

The offer closes at 5.30pm on March 19.