Top Global privatisation offer closes with 95.9% valid acceptances

Published Mon, Jun 28, 2021 · 02:39 PM

THE voluntary unconditional cash offer for Top Global has closed with valid acceptances representing 95.89 per cent of the total number of shares, the company said in a bourse filing on Monday.

The offer closed at 5.30 pm on June 28. It was made in April by Top Global executive director and controlling shareholder Sukmawati Widjaja through her investment vehicle SW Investment Holding, with an offer price of S$0.39 per share.

As the free float has fallen below 10 per cent, a request will be made to the Singapore Exchange to suspend trading in Top Global shares before 9 am on Tuesday.

The offeror intends to exercise its right of compulsory acquisition to acquire all the remaining Top Global shares, and has applied to delist the company.

Top Global shares closed down 0.5 Singapore cent or 1.28 per cent to S$0.385 on Monday.

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