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M1 loses free float, to be delisted
TELCO M1 has lost its free float and will be delisted after the close of the voluntary conditional general offer.Currently, Konnectivity - owned jointly by Keppel and Singapore Press Holdings (SPH) - and its concert parties control 835.1 million shares or 90.15 per cent of the total number of shares of M1.
Keppel and SPH said more acceptances had come following M1 long-term shareholder Axiata Group Bhd's acceptance of the joint offer of S$2.06 per share for its entire stake of 28.6 per cent.
That means that less than 10 per cent of M1's shares are now held by the public.
Keppel and SPH will also extend the closing date of the offer from March 4 to March 18.