Tan brothers to get 1.2b VGO shares in backdoor listing of Hatten's property arm

Singapore

VGO Corp plans to issue 1.2 billion new shares in a reverse takeover that will give the property development arm of Malaysian conglomerate Hatten Group a backdoor listing in Singapore.

VGO will issue the shares, whichwill represent about 92.8 per cent of VGO's post-enlargement issued share capital, to brothers Colin and Edwin Tan in exchange for full ownership of Sky Win Management Consultancy, Hatten's property development arm. Hatten is a conglomerate owned by the Tan brothers with businesses in real estate, hospitality and education.