Low Keng Huat privatisation imminent as offeror secures over 90% of shares

[SINGAPORE] Mainboard-listed construction and property developer Low Keng Huat (LKH) is set to be privatised, as the offeror has secured 93.84 per cent of the company’s total issued share capital as at Monday (Jan 26).

This brings the percentage of issued shares held by the public below 10 per cent, which is the minimum required to maintain a listing status.

The offeror, Consistent Record – a special-purpose vehicle effectively controlled by managing director Marco Low and his family – made a final offer for LKH shares it did not already own on Jan 13 at S$0.78 apiece. This was 8.3 per cent or S$0.06 higher than its initial offer price.

Prior to announcing the offer, Consistent Record held 400.2 million LKH shares, representing 54.2 per cent of the shares. Concert parties held 160.9 million shares, or 21.8 per cent. Collectively, they held about 76 per cent of the shares.

After market close on Monday, UOB Kay Hian said Consistent Record had acquired 78 million shares – or 10.6 per cent of LKH’s share capital – through market purchases since the offer period began.

In the latest trading session, the offeror acquired another 136,200 shares, or 0.02 per cent, for S$0.78 each. Valid acceptances tendered by shareholders other than the concert parties made up 7.3 per cent.

SEE ALSO

Low Keng Huat shares jump 5.4% on increased privatisation offer price

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In December 2025, the majority shareholders of LKH launched a voluntary conditional general offer to take the company private.

The counter ended Monday flat at S$0.78.