STOCKS | Staff Reporter, Singapore

Hong Leong Asia extends deadline on Tasek takeover bid

It aims to acquire the remaining shares in the cement manufacturer.

Hong Leong Asia has announced that the closing time and date for acceptances of the voluntary takeover offer for Malaysia-based cement manufacturer Tasek has been extended from 5:00 pm (MYT) on 23 June to 5:00 pm (MYT) on 17 July, an SGX filing revealed.

Hong Leong offered to acquire the remaining ordinary shares and preference shares in Tasek. This follows after the firm bought shares for $57,823, increasing its stake in the cement manufacturer to 92.42%. 

Further, Hong Leong’s subsidiary Ridge Star Limited (RSL) has acquired another 22,400 Tasek ordinary shares for $42,267.93, bringing its stake in the firm to 96.59%. The sale shares were bought at $1.89 (RM5.79) apiece.

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