Founding family of Sim Lian offers S$1.08 per share to take company private

SINGAPORE (Aug 9): Kuik Ah Han, the founder and executive chairman of Sim Lian Group, is taking the property developer and construction company private.

Coronation 3G, the investment holding company owned by Kuik and his family, has announced a voluntary conditional cash offer of S$1.08 to buy back all the outstanding shares it does not own.

The offer price is about 15% higher than Sim Lian’s last traded price of 94 cents and values the company at S$1.09 billion.

Low trading liquidity of its shares is cited as a reason for its move to privatise and delist the company.

Coronation 3G says it has secured irrevocable undertakings representing 80.36% of the total number of issued shares. — theedgemarkets.com.sg

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