Esteel making mandatory general offer for BRC Asia

Singapore

A PRIVATE company, Esteel Enterprise, is making a mandatory general offer to acquire the shares it does not already own in mainboard-listed steel prefabrication firm BRC Asia at S$0.925 per share.

This follows news of Esteel's purchase of 81.6 million shares from Lingco Marine, Lingco Holdings, Seah Kiin Peng, Sin Teck Guan (Pte) Ltd and Lim Siak Meng, representing a 43.77 per cent stake, at 92.5 Singapore cents per share last Friday.