On June 17, SIAS had announced in a press release it had studied the circular and wishes to highlight para 10.6 of the circular on “Solicitation of potential competing offer(s) to maximise shareholder value for the benefit of all shareholders”.
Oversea-Chinese Banking Corp announced on June 22, on behalf of Sanjuro United, that the closing date of the revised offer of 40 cents per share for Haw Hong Corp by Sanjuro, has been extended for 14 days, up to July 6, 2022.
Sanjuro comprises a consortium of four parties, including a member of the current family that owns Hwa Hong. The consortium along with acceptances currently hold 206.8 million shares or 31.69% of Hwa Hong. As of June 22, the offer for Hwa Hong has not gone unconditional, where the offeror holds more than 50%.
