The sellers were Chiu Teng Enterprises, Kim Kyoo Chul and Tham Keng Chuen.
Advansory Investment, on the other hand, is solely held by one Liu Lianlian, who has no intention to revise the offer price and plans to maintain the listing status of the company.
She will be undertaking a comprehensive review of the company's businesses to "determine the optimal business strategy".
Olive Tree Estates was listed back in 2017 as Changjiang Fertilizer Holdings.
See also: Privatisation offer for Low Keng Huat raised to 78 cents per share
Olive Tree Estates shares last traded at 12 cents. It has gained 72.86% year to date.
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