Thursday 28 Mar 2024
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SINGAPORE (Oct 30): Cityneon Holdings has received a S$1.30/share cash offer from executive chairman Ron Tan and Hongkong entrepreneur Johnson Ko Chun Shun to bring the company private.

West Knighton, a special purpose vehicle owned by Ko and Tan, launched a mandatory unconditional cash offer for the rest of the shares after on Monday purchasing an 68.95% stake in Cityneon from Lucrum 1 Investment at S$1.30 per share for S$219.3 million.

The S$1.30 offer price values the Cityneon at S$318 million and is at a premium to the highest ever closing price of the company, with a premium of 19.2% over the volume-weighted average price of the shares for the 12-month period respectively up to... (Click here to read the full story)

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