TIH offer closes with offeror getting 62% stake

Singapore

THE offer for mainboard-listed TIH Ltd closed on Feb 20 with the offeror and its concert parties ending with 62 per cent of the mainboard-listed company.

Kaiser Union - on behalf of Lippo China Resources and hedge fund Argyle Street Management - had in January launched an unconditional offer for TIH at S$0.57 a share, to be paid S$0.125 in cash and S$0.445 in three-year senior unsecured 2.25 per cent notes issued by Kaiser.