Offer for Lian Beng turns unconditional

THE offer for Lian Beng has turned unconditional as the offeror Ong Sek Chong & Sons has secured over 50 per cent of the total number of issued shares, said the offeror on Monday.

In a statement after garnering 50.81 per cent of the total stakes as at 6pm on July 5, the offeror announced the acquisition is now unconditional.

The offer will close at 5.30 pm on July 26, the filing to the bourse said.

The construction and civil engineering group is controlled by the Ong family, who is making the cash offer through Ong Sek Chong & Sons at 50 Singapore cents per share.

The counter was unchanged at S$0.50 on Monday, before this announcement was made.