OSIM suspends share trading as Ron Sim's stake reaches 96% at close of offer

OSIM International has suspended the trading of its shares after founder and chief executive Ron Sim raised his stake to 96.03 per cent at the close of his privatisation offer.

Mr Sim had offered S$1.39 per share for the massage chair retailer's shares. His current stake allows him to compulsorily acquire the rest of the shares that he does not already own, and Mr Sim has said that he will exercise his right to do so.