MS Holdings to delist on Dec 28

CATALIST-LISTED MS Holdings will delist on Dec 28, following the close of its successful privatisation by its executive chairman Ng Chui Hwa through her wholly owned investment vehicle, Kingswin Investment. The delisting follows Ng’s voluntary unconditional cash offer to privatise MS Holdings at S$0.07 per share in October. The offer price then represented a 16.7 per cent premium over the MS Holdings’ Aug 26 closing price of S$0.06, the last time MS Holdings’ shares changed hands before the offer announcement. Subsequently, the offer closed on Dec 2 with valid acceptances representing 96.72 per cent of MS Holdings’ total issued shares. Kingswin then exercised its right of compulsory acquisition to acquire the remainder of the company. MS Holdings, better known as Moh Seng Cranes in the industry, is in the business of leasing mobile and lorry cranes, as well as trading cranes and related equipment. The counter last traded at S$0.069 on Nov 9.