Sevak's controlling shareholder plans partial offer

Singapore

SEVAK Limited's controlling shareholder Smart Co Holding on Friday said it intends to make a partial offer for the shares of the company directly or through its concert parties, which will result in Smart Co Holding and its concert parties holding about 51 per cent of the shares of Sevak.

Sevak said in a Singapore Exchange (SGX) filing that it was notified by Smart Co Holding of its intention on Friday after the close of trading. It added that Smart Co Holding emphasised there is no assurance any transaction will eventually materialise, and no definitive or binding agreements have been reached in relation to the possible transactio…