Shanghai-listed Milkyway, on June 4, made an offer for LHN Logistics at 22.66 cents apiece, 13.3% over LHN Logistics’ initial public offering (IPO) price of 20 cents in April 2022.
Shareholders holding about 99.99% of the total share capital in LHN Limited (SGX:41O
) have voted for the potential disposal of LHN Logistics (SGX:GIH) at an extraordinary general meeting (EGM) held on July 31.
The approval, coupled with the consent given by JTC Corporation, means that the offer from China’s Milkyway Chemical for LHN Logistics will go through.
