Boustead Singapore plans to take real estate subsidiary private

It offered to buy all of Boustead Projects Limited’s shares for $0.90 each share.

Boustead Singapore Limited has offered to purchase all of the issued and paid-up ordinary shares of its real estate subsidiary, Boustead Projects Limited, for $0.90 each share.

Boustead Singapore already holds a 54.87% stake or 171.9 million shares in Boustead Projects.

In a bourse filing, Boustead Singapore said its offer is “unconditional in all respects.”

“The offer will remain open for acceptances by company shareholders for at least 28 days from the date of posting of the offer document,” Boustead Singapore wrote.

The offer documents which lay out the terms and conditions of the offer and enclose the appropriate forms of acceptance of the offer will be despatched to company shareholders not earlier than 14 days and not later than 21 days from 6 February.

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