SK Jewellery shares up 56.8% after co-founders' privatisation bid

The offeror says going private will give it more control and cost savings

Vivienne Tay

Published Wed, Sep 2, 2020 · 09:50 PM

Singapore

SHARES of Catalist-listed SK Jewellery Group reached a two-year high on Wednesday after the jeweller's co-founders offered to take the company private at 15 Singapore cents per share.

The counter hit an intra-day high of 14.9 cents on Wednesday, up 56.8 per cent or 5.4 cents as at 1.05pm, just shy of the offer price. The last time the counter closed near this level was in late July 2018.

The offeror in the voluntary conditional cash offer, OroGreen Investment, was incorporated by the co-founders Lim Yong Guan, Lim Yong Sheng and Lim Liang Eng, who are r…