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Super expected to delist soon
LOCAL food and beverage maker Super Group, known for its Super and Owl Coffee brands, will be ending its two-decade public listing soon after an offer from a Dutch company to take it private has met a crucial threshold.
In two separate filings to the Singapore Exchange on Tuesday morning, mainboard-listed Super Group and Sapphire Investments said that as at April 17 at 5pm, the latter owns 91.73 per cent, or one billion shares. Its offer price was S$1.30 in cash for each share.
With the number of issued shares in public hands now below 10 per cent, "trading of the shares will be suspended at the close of the offer", said Super Group.
The closing date of the offer will be 5.30pm on April 25, as stated in an earlier release.
Sapphire Investments said that it intends to delist Super Group. The company is an indirectly wholly owned subsidiary of Dutch coffee and tea firm Jacobs Douwe Egberts (JDE).
Super Group was founded in 1987, and went public in 1994. The offer for Super Group was first announced in November 2016.
Its shares closed 0.39 per cent higher at S$1.30 apiece on Monday.