GK Goh to delist on Jun 5

INVESTMENT holding firm GK Goh Holdings will delist on Jun 5 after a successful privatisation bid, a bourse filing on Monday (May 29) indicated. 

The move comes a month after offerer Verveine received 95 per cent of valid acceptances for its bid to take the mainboard-listed company private for S$1.26 per share in cash. 

Verveine is a special purpose vehicle owned by GK Goh’s founder and chairman, and its managing director. 

When the privatisation offer was first announced in February 2023, GK Goh’s managing director Goh Yew Lin said that the company’s share price has been trading for some time at a discount to book value with low liquidity. 

He added that the delisting and privatisation of GK Goh will allow its owners to restructure the company’s asset mix and take strategic long-term decisions without as much pressure to deliver profits in the short term. 

The company last traded at S$1.24 on Apr 25, 2023.