An investment holding company led by the founder of Sim Lian Group is looking to delist and privatise the property developer.
In a Singapore Exchange (SGX) filing last 8 August, Coronation 3G revealed a voluntary conditional cash offer for all outstanding shares in Sim Lian Group (SLG) that it doesn’t own.
The S$1.08 per share offered price is final, showing a 14.9% premium over the recent traded price of S$0.94 per share on 4 August.
Coronation 3G is a Singapore-based investment holding company led by Kuik Ah Han, which owned by the Kuik family.
The Company received guaranteed irrevocable undertakings presenting 80.36% of all the issued shares in Sim Lian Group. The propose on Coronation 3G is conditional receiving acceptances of 90% all the issued shares.
Sim Lian Group is well-known as developer of remarkable Singapore Property, such as Treasure Crest EC and Wandervale EC.
