Privatisation

Last day of trading of shares is on Apr 2

The flagship plan, delayed for years, is now facing fresh setbacks

The offer is priced at S$0.008 per share

After selling One Raffles Place, OUE Reit should be taken private or divest the rest of its properties

The per-share takeover bid is likely to be less than the current market price of around 6,000 yen, add sources

The special-purpose vehicle will exercise its right to compulsorily acquire all remaining shares at the offer price of S$0.78 a share

Offer comes amid prolonged trading suspension, regulatory overhang, which adversely affects its access to funding and borrowing capacity

The US fund now owns around 7.1% of Toyota Industries

But the proposed move could be the SGX-listed group’s way of priming itself to be privatised in future