Offer closing date for Hupsteel extended by two more weeks

The founding Lim family's voluntary conditional cash offer for steel trader Hupsteel has been extended from 5.30pm on Aug 16 to 5.30pm on Aug 30.

In its latest circular, the offeror emphasised that the offer price of S$1.20 per share is final and it does not intend to revise it.

It added that as at 5pm on August 15, it had amassed 83.416 per cent in shares and valid acceptances in the company, still shy of the 90 per cent it requires to succeed in its privatisation.