Under the terms of the acquisition, Chuan Hup acquired 408 shares, or 7.7% of the total shares in Homestead Properties, Homestead Capital’s sole shareholder, for $800,000. It also subscribed to 2,295 shares, or 43.3% of the total shares in Homestead Capital, for $4.5 million.
Chuan Hup Holdings (SGX:C33
) , on May 8, announced that it has completed its acquisition of 51% of the total shares in Homestead Capital.
Homestead Capital is a newly-incorporated investment holding company that holds all the paid-up shares in Homestead KS. Homestead KS is a company that holds, leases, operates and manages properties for the student accommodation business.
