The Widjaja family that is offering to privatise Sinarmas Landvia an entity called Lyon Investments has on May 10 revised their offer to 37.5 cents per share, up from the initial 31 cents.
The closing date of the offer acceptance date has also been extended to May 29 from an initial deadline of May 14.
Shareholders who had already accepted the original offer of 31 cents will be entitled to the revised offer as well.
As of May 9, the offeror has already received acceptances giving it control over 94.15% of the shares.
Sinarmas Land shares closed at 32 cents on May 9.
See also:
See also: Frasers Property offers 71 cents per unit to privatise Frasers Hospitality Trust
- W Capital Markets maintains valuation methodologies as sound in forming view as IFA for Sinarmas Land privatisation
- SIAS disagrees with IFA and IDs' views over 'exploitative' privatisation offer for Sinarmas Land
- Privatisation offer for Sinarmas Land 'not fair' but 'reasonable', says IFA W Capital Markets
- Sinarmas Land appoints W Capital Markets as its independent financial advisor'
- Sinarmas Land shares surge as high as 23% after privatisation offer
- Billionaire Widjaja family offers to take Sinarmas Land private for 31 cents per share
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