San Teh offer crosses 90% shareholding threshold; compulsory acquisition next

Singapore

AN OFFER by the Kao family and concert parties for all shares of property firm San Teh at S$0.28 apiece in cash closed on Thursday, after the offeror acquired 95.38 per cent of the company's shares.

The family - whose members include directors, and the chairman and CEO of San Teh - has crossed the 90 per cent shareholding threshold, triggering a compulsory acquisition.