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San Teh cash offer to delist extended to Nov 7

IN A whisker of garnering 90 per cent of shares to delist mainboard-listed San Teh, the offeror, on the eve of the offer closing, has extended the closing date to Nov 7.

Singapore San Teh Real Estate, the offeror through which the Kao family is making the offer, together with concert parties controls or had agreed to acquire a total of 89.83 per cent of all shares in San Teh, as at 5pm on Oct 23.

The shareholding is just shy of the 90 per cent that the offeror is seeking by the close of the offer as well as being the condition of the offer.

The voluntary conditional cash offer at S$0.28 in cash for each share in San Teh was supposed to close on Oct 24. However, it has since been extended to Nov 7 without any revision to the offer price. 

San Teh deals in property development and investment, hotel, PVC pipes and fittings.

San Teh shares ended at S$0.275 on Wednesday, down 0.5 Singapore cent or 1.79 per cent.

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