The resulting in the number of shares in Ban Leong held in public hands falling below 10%. As the free float requirement is no longer satisfied, the SGX has suspended trading of the shares at the close of the offer.
The company offering to take Ban Leong Technologies (SGX:B26
) private has announced that it has successfully acquired more than 90% of the total number of shares in the company.
As such, Epicsoft Asia, which now owns 92.92% of the total number of shares in Ban Leong, will proceed to exercise its right to compulsorily acquire the shares of the dissenting shareholders.
