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GKE shareholders in potential sale discussion

Chan Chao Peh Published on Wed, Feb 15, 2017 / 8:44 PM GMT+8

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SINGAPORE (Feb 15): GKE Corporation, which has interests in logistics and building materials, announced that “some of its substantial shareholders” have been approached “to explore a potential acquisition” of shares in the company, said the company’s CEO Neo Cheow Hui in an announcement after the market closed on Wednesday.

Over the past month, GKE shares have been climbing steadily. From 10.6 cents on Jan 24, it has nearly doubled to 19 cents on Tuesday. It closed on Wednesday at 18.9 cents, down 0.1 cent. The company is now valued at nearly $130 million. SGX has yet to publicly query the company on its unusual trading pattern.

“The Company further understands that the discussion is at a preliminary stage and there is no assurance that any definitive agreement or transaction will materialise,” says Neo.