Advertisement
Singapore markets close in 3 hours 29 minutes

  • Straits Times Index

    3,306.42
    +33.70 (+1.03%)
     

  • Nikkei

    38,423.48
    +871.32 (+2.32%)
     

  • Hang Seng

    17,157.27
    +328.34 (+1.95%)
     

  • FTSE 100

    8,044.81
    +20.94 (+0.26%)
     

  • Bitcoin USD

    66,795.81
    +409.01 (+0.62%)
     

  • CMC Crypto 200

    1,442.43
    +27.67 (+1.96%)
     

  • S&P 500

    5,070.55
    +59.95 (+1.20%)
     

  • Dow

    38,503.69
    +263.71 (+0.69%)
     

  • Nasdaq

    15,696.64
    +245.33 (+1.59%)
     

  • Gold

    2,338.60
    -3.50 (-0.15%)
     

  • Crude Oil

    83.46
    +0.10 (+0.12%)
     

  • 10-Yr Bond

    4.5980
    -0.0520 (-1.12%)
     

  • FTSE Bursa Malaysia

    1,568.59
    +6.95 (+0.45%)
     

  • Jakarta Composite Index

    7,168.54
    +57.73 (+0.81%)
     

  • PSE Index

    6,579.93
    +73.13 (+1.12%)
     

Koh Wee Meng to privatise Global Dragon after offer acceptance crosses 90%

Felicia Tan
·1-min read

Koh, via an entity called JK Global Wealth, first made the offer on Feb 10 at 12 cents per share.

The privatisation of Global Dragon 586 will go through after the company’s offerors secured 95.50% of the shares as at the close of March 17.

As the 90% threshold has been crossed, property tycoon Koh Wee Meng will exercise his right to compulsorily acquire the rest of the shares at his offer price of 12 cents per share.

Koh, via an entity called JK Global Wealth, first made the offer on Feb 10.

Following this, an application will be made to the SGX-ST to delist the company.

Global Dragon was first listed on the Catalist board on Sept 27, 1999. Its net asset value (NAV) as at June 30, 2022, was at 13.17 cents.

ADVERTISEMENT

Shares in Global Dragon closed flat at 11.9 cents on March 17.

See Also: