SINGAPORE (Dec 29): Qian Jianrong, the co-founder, executive chairman, and chief executive officer of CWG International, is leading a consortium to make a voluntary conditional cash offer for shares in the SGX-listed real estate group, with the intention of delisting and privatising the company.

Elidom Investment Co., a consortium comprising Sinway Investment, H&H Wealth, and Floriland Co., plans to offer 19.5 cents per share for the shares that it does not already own in CWG.

This represents a premium of approximately 29.1% over the volume-weighted average price per share for the one month leading up to Dec 28. The offer price is also some 27.5% higher than CWG’s closing price of 15.3 cents on Thursday.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook