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Chairman Koh Wee Meng of Global Premium Hotels to take company private; offers 36.5 cents for each share

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Chairman Koh Wee Meng of Global Premium Hotels to take company private; offers 36.5 cents for each share

PC Lee Published on Fri, Feb 24, 2017 / 6:51 AM GMT+8

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SINGAPORE (Feb 24): Global Premium Hotels, one of Singapore's largest chain of economy-tier and mid-tier hotels, is to be taken private by its chairman Koh Wee Meng.

In a filing on Thursday night, JK Global Capital, an investment company controlled by Koh, is offering 36.5 cents per share for the shares he does not own.

The offer price is 14.1% higher than the closing price of 32 cents on Feb 20, the last full trading day before the announcement.