Hwang Capital (M) Bhd (HCM) chairman Hwang Lip Teik and the company which he controls, Hwang Enterprises Sdn Bhd (HESB), have extended the closing date of their takever offer for the remaining HCM shares to July 21 after their offer turned unconditional.
On behalf of the joint offerors, Affin Hwang Investment Bank (Affin Hwang IB) said in a statement that they had received valid acceptances that boosted their holding to 55.52% of HCM shares as at July 1 (three days prior to the first closing date). With them holding more than 50% of the shares, their offer is now unconditional.
At the date of the posting of the offer document on June 13, the offerors held 30.59% of HCM’s paid-up capital. So far they have received acceptances representing a 24.93% stake.
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On behalf of the joint offerors, Affin Hwang Investment Bank (Affin Hwang IB) said in a statement that they had received valid acceptances that boosted their holding to 55.52% of HCM shares as at July 1 (three days prior to the first closing date). With them holding more than 50% of the shares, their offer is now unconditional.
At the date of the posting of the offer document on June 13, the offerors held 30.59% of HCM’s paid-up capital. So far they have received acceptances representing a 24.93% stake.
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