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SINGAPORE PRESS-Raffles United to make offer for Kian Ho - Business Times
June 5, 2014 / 12:35 AM / 3 years ago

SINGAPORE PRESS-Raffles United to make offer for Kian Ho - Business Times

Raffles United on Wednesday bought 73.2 million shares in mainboard-listed Kian Ho Bearings Ltd, representing a 31.27 percent stake in the bearings distributor, from crane supplier Tat Hong Holdings Ltd SI> in a married deal, the Business Times reported.

This boosted the stake of Raffles United and its concert parties to 52.65 percent in the target company, triggering a mandatory unconditional cash offer which Raffles United will have to make for all the Kian Ho shares it does not already own.

(link.reuters.com/cug89v)

NOTE: Reuters has not verified this story and does not vouch for its accuracy. (Compiled by Singapore Newsroom; Editing by Prateek Chatterjee)

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