Sunvic Chemical to be delisted from SGX mainboard

SUNVIC Chemical Holdings will be delisted from the mainboard of the Singapore Exchange, following Harrier Group's intention to exercise its right to compulsorily acquire all the shares of the shareholders who have not accepted its voluntary general offer.

Harrier Group is an investment holding company whose sole director and shareholder is private investor Song Wuying. The group intends to acquire all the shares of the dissenting shareholders at S$0.028, the offer price for each share.

The offer price represents a premium/(discount) of about 21.7 per cent, (3.4 per cent), 16.7 per cent and (12.5 per cent) over/to the volume weighted average price per share for the one-month, three-month, six-month and 12-month periods respectively, and a premium of 27.3 per cent to the closing price on the last trading day.

Shares in watchlisted Sunvic Chemical have been suspended since Jan 14, 2019.

As at 6pm on Feb 9, 2021, the offeror received valid acceptances that amount to 91.26 per cent of the total number of issued shares, other than those already held by the offeror, its related corporations or their respective nominees.