Singapore O&G takeover bid closes with offeror controlling 93.3% interest
THE privatisation bid for Catalist-listed healthcare provider Singapore O&G : 1D8 0%closed on Wednesday (May 4) with the offeror and its concert parties controlling a 93.3 per cent stake, including acceptances.
Special purpose vehicle NewMedCo Group received valid acceptances representing 88.9 per cent of all shares - up from 84.6 per cent on Apr 14, right ahead of a deadline extension.
The offeror - which is linked to private equity player Dymon Asia - launched its voluntary unconditional cash offer of S$0.295 a share on Mar 7, with its concert parties already controlling an interest of roughly 74.8 per cent in the gynaecological services company.
NewMedCo previously indicated that it does not intend to preserve the listing status of Singapore O&G, which the deal values at around S$140.4 million.
The counter shed S$0.015 or 5.1 per cent on Wednesday to S$0.28, below the offer price, with 44,000 shares traded.
GET BT IN YOUR INBOX DAILY
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Asia: Markets mixed as global rally stalls, eyes on yen
Morgan Stanley Asia private equity unit to reorganise as CEO retires
Mercedes says it will continue to invest in China tie-ups
Xiaomi locks in over 75,000 orders for SU7 car, targets over 10,000 deliveries in June
Gold trades in tight range as market focuses on US economic data
TSMC says ‘A16’ chipmaking tech to arrive in 2026, setting up showdown with Intel