Boustead Singapore F9D has closed its exit offer for shares in Boustead Projects on Jan 26.
As at 5.30pm, Boustead Singapore F9D had received valid acceptances amounting to 74,998,330 shares in Boustead Projects, representing approximately 23.94% of its total number of shares.
This includes acceptances of 62,631,608 shares received from parties acting in concert with Boustead Singapore or 19.99% of its total number of shares.
With the valid acceptances of its exit offer, Boustead Singapore owns and controls an aggregate of 311,524,742 shares in Boustead Projects, representing approximately 99.45% of the total number of shares in the company.
Boustead Singapore first made the voluntary unconditional offer for the shares in Boustead Projects on Feb 6, 2023, at 90 cents apiece. The offer was increased to $1.18 per share on Nov 15 last year.
Following completion of the exit offer, Boustead Projects will be mandatorily delisted from the official list of the SGX-ST.
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The date of delisting will be announced following consultation with SGX-ST.
Shares in Boustead Singapore and Boustead Projects closed at 86.5 cents and 95.5 cents, respectively on Jan 26.
