Advertisement
What really powers the cloud? Behind every Google search, A...
A lot of what defines a home isn’t visible at handover. I...
Private equity has played a significant role in shaping Indi...
Luxury real estate is one of the most talked-about segments ...
Airports play a much bigger role than just enabling travel -...
Hatten Land Ltd has moved ahead with its proposed acquisition of Metrocon Pte by submitting a circular to the Singapore Exchange (SGX-ST). Alongside the acquisition, the company has proposed a compliance placement of up to 25 million new shares at a minimum price of SGD 0.20 per share and has applied to list up to 178.87 million shares on the SGX-ST. The proposed transaction forms part of Hatten Land's ongoing corporate restructuring efforts as it seeks to meet regulatory requirements and strengthen its business operations.
Hatten Land Ltd has taken another step towards its proposed acquisition of Metrocon Pte by lodging a circular with the Singapore Exchange (SGX-ST) in the past week, outlining details of the planned transaction.
As part of the proposal, the company plans to undertake a compliance placement of up to 25 million new shares at a minimum issue price of SGD 0.20 per share. The placement is intended to help the company meet regulatory requirements while supporting the proposed acquisition.
Hatten Land has also applied to the SGX-ST for the listing of up to 178.87 million shares in connection with the proposed transaction and related corporate actions.
The acquisition of Metrocon Pte is subject to the necessary regulatory approvals and shareholder consent, where applicable. The circular submitted to the SGX-ST provides shareholders with information on the proposed deal and the related share issuance.
Hatten Land, which has interests in property development and real estate projects, has been pursuing restructuring measures in recent years as it works towards strengthening its financial position and complying with Singapore Exchange listing requirements. The proposed acquisition and accompanying share placement form part of these ongoing corporate initiatives.
Source Reuters
Advertisement
Facebook
Whatsapp
