Following the completion of the compulsory acquisition, DigiTech Holdings will own all the shares in Challenger. The company will be delisted from the Mainboard of the Singapore Exchange Securities Trading Limited (SGX-ST) at a date and time to be announced later.
DigiTech Holdings, the vehicle set up by Challenger Technologies’ (SGX:573
) chairman Loo Leong Thye and private equity firm Dymon Asia, has exercised its right of compulsory acquisition under Section 215(1) of the Companies Act.
Under the Act, DigiTech Holdings will compulsorily acquire all the shares of the shareholders who have not accepted the offer as at the close of the offer.
