,Singapore

KepCorp now owns 67.8% of KepLand barely a week before takeover deadline

It still needs to buy over 340m shares.

The clock is ticking for Keppel Corp’s $3b privatisation bid for Keppel Land. With barely a week before the offer deadline, KepCorp yesterday revealed that it now owns 67.8% of its subsidiary.

KepCorp has received 9,055 valid acceptances representing 13.3% of KepLand shares, amounting to 205,448,849 offer shares.

KepCorp still has to acquire over 340 million shares in order to cross the 90% ownership threshold, which will trigger a mandatory compulsory acquisition and delisting action.

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