Sanion stake in NatSteel reaches 24.12 per cent
According to latest reports, Indonesian businessman Oei Hong Leong has raised his stakes at NatSteel up to 24.12%, as a result of his last purchases via his Sanion Enterprises. This brings him even closer to 98 Holdings stake of 25%. Besides, Oei Hong Leong is buying at S$2.05, S$0.02 higher than 98 Holdings offer closing on December, 4. It is not yet clarified whether 98 Holdings intend to extend its offer by then.
Now the expectation of the
Singapore Stock Exchange is Oei Hong Leong to declare whether he is going to make a general offer by his deadline of December 13, given by Securities Industry Council (SIC).
On the shareholders voting to take place next Wednesday, December 4, whether to accept 98 Holdings general offer, approve only CCL offer or to reject both will be decided upon. Another alternative, according to the independent financial advisor ANZ, is that the shareholders may try sell their shares on the stock market at a price higher than S$2.03.