Offer to acquire remaining shares in Chip Eng Seng turns unconditional

Tang Dynasty Treasure plans to acquire a 51.73% stake in the company.

Tang Dynasty Treasure has declared unconditional its mandatory cash offer to acquire all the issued and paid-up ordinary shares of Chip Eng Seng.

Chip Eng Seng's Chairman, Celine Tang, and her husband, Gordon Tang, own the Tang Dynasty Treasure.

United Overseas Bank Limited (UOB), on behalf of the Tangs, said the company received valid acceptances amounting to 405,682,556 shares, representing approximately 51.73% of the total issued and paid-up ordinary shares of Chip Eng Seng.

The Tangs’ offer will remain open for acceptance until 5.30 p.m. (Singapore time) on 19 January 2023.

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