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Should minorities accept Second Chance offer?

There may be little point continuing to ride along with the company’s founder, if his current focus on listed stocks is not possible under SGX listing rules

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Ben Paul

Ben Paul

Published Mon, Jul 15, 2024 · 05:00 AM
    • Mohamed Salleh and four other shareholders of Second Chance Properties, holding nearly 85.1 per cent of its shares, have agreed to accept the offer.
    • Mohamed Salleh and four other shareholders of Second Chance Properties, holding nearly 85.1 per cent of its shares, have agreed to accept the offer. PHOTO: BT FILE

    THE origin story of Second Chance Properties dates back to 1975, when its founder and chief executive Mohamed Salleh started a tailoring business that lasted only four months.

    By the company’s account, Salleh restarted the business a few months later and named it Second Chance.

    This past week – on Jul 10 – Salleh made an unconditional offer for Second Chance Properties at S$0.30 per share via a special purpose vehicle called Final Chance Holdings.

    BT Correspondentssecond chance propertiesPrivatisation

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