Raffles United on Wednesday bought 73.2 million shares in mainboard-listed Kian Ho Bearings, representing a 31.27% stake in the bearings distributor, from crane supplier Tat Hong Holdings in a married deal, the Business Times reported.
This boosted the stake of Raffles United and its concert parties to 52.65% 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.
Thursday, June 5, 2014
Raffles United to make offer for Kian Ho
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