Offer for Low Keng Huat closes with 96.88% valid acceptances
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The privatization offer for Low Keng Huat was successful, achieving 96.88% valid acceptances. Consistent Record, controlled by Marco Low, will acquire all remaining shares at S$0.78 each, leading to the company's delisting from the Singapore Exchange. The offer price was revised to reflect an 8.3% increase from the initial offer. The company has not accessed equity capital markets since 2007, and the move aims to reduce compliance costs and enhance operational flexibility.
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