OSIM privatisation crosses 90%; minority squeeze-out to be applied

Singapore

OSIM International founder Ron Sim is on the verge of privatising his company, with his family having acquired, agreed to acquire, owned or controlled 90.64 per cent of OSIM's shares as at Thursday.

The 90 per cent threshold is where Mr Sim can compulsorily acquire minorities' shares, said Credit Suisse late on Thursday night. Separately, 90 per cent is also a ownership threshold where a stock can be suspended from trading as public float has fallen below 10 per cent.