Tan brothers to get 1.2b VGO shares in backdoor listing of Hatten's property arm
Assets being injected into VGO include four Malacca projects valued at RM1.9b
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.
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