Top Global Limited in possible SGX delisting

Executive chairman Oei Siu Hoa wants to privatise TGL at $0.33 per share.

SW International Holding has announced a Voluntary Conditional Cash Offer for all outstanding shares of Singapore Exchange-listed Top Global Limited, including all the TGL shares owned, controlled, or agreed to be acquired by its concert parties.

The final offer price for each share is S$0.33 in cash, which represents a premium of 65% and 66.7% above the three-month and six-month volume-weighted average price, respectively.

“SW International Holding believes that the offer presents TGL shareholders with a compelling cash exit opportunity, given the illiquidity of the shares of TGL and the potential Qualifying Certificate penalties that may be levied on TGL’s E Maison and R Maison projects in Singapore,” said the announcement.

SW International Holding is a Singapore-incorporated investment holding company owned by Oei Siu Hoa @ Sukmawati Widjaja, executive chairman of TGL.