MS Holdings loses free float, privatisation offer closing date extended to Dec 2

CATALIST-LISTED MS Holdings on Saturday (Nov 5) said it has lost its free float and will be delisted after the company looking to privatise it obtained 92.37 per cent valid acceptances as at 6 pm on Friday.

The company, Kingswin Investment, is wholly owned by MS Holdings executive chairman Ng Chui Hwa. It will exercise its right of compulsory acquisition and will proceed to delist the company from the Singapore Exchange when the offer closes.

The closing date of the offer has been extended to 5.30 pm on Dec 2, 2022, from Nov 18, 5.30 pm previously.

To recap, Kingswin Investment in October made a voluntary unconditional cash offer to privatise MS Holdings at S$0.07 per share. This represents a 16.7 per cent premium over the counter’s Aug 26 closing price of S$0.06, the last trading price before the offer announcement.

The company, 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.

Its counter last traded flat at S$0.07 on Oct 31.