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k1 Ventures completes divestment of interests in Guggenheim Capital; to suspend trading of shares on SGX
INVESTMENT holding company k1 Ventures has completed the disposal of its entire interests in Chicago-based financial services and investment management holding company Guggenheim Capital for approximately US$221 million on Nov 17.
With this, the company has disposed of "all or substantially all" of its assets and property, k1 Ventures highlighted.
"As previously disclosed in the company's circular to shareholders dated Sept 27, to avoid any market speculation on the value of the company, the company will be suspending the trading of shares on the Singapore Exchange (SGX)," it said in a filing to SGX, adding that this will take place on and from Nov 20. "After the company distributes its excess cash to shareholders, the company will take steps to commence voluntary liquidation."