CapitaLand takes home 81.3% of CapitaMalls Asia post offer acceptances

Is this sign of a good news on June 9?

After increasing its offer price, CapitaLand revealed that it now owns an estimated 81.3% or around 3,166,910,285 Shares in CapitaMalls Asia, considering the open market purchases and offer acceptances. Mr Lim Ming Yan, President & Group CEO, CapitaLand Limited, said that they are very confident that they will delist CMA soon.

In a relase, CapitaLand announced that its stake in CapitaMalls Asia Limited (CMA) is now approximately 81.3% after taking into account the open market purchases and acceptances of the Offer up to 5pm on 20 May 2014. 

On 16 May 2014, CapitaLand increased its Offer Price for CMA shares to S$2.35 per Share (Final Offer Price) and declared the Offer unconditional. CMA shareholders who have accepted the Offer prior to 16 May 2014 will be automatically entitled to receive the Final Offer Price.

As at 5 pm on 20 May 2014, CapitaLand and its concert parties owned, controlled or have agreed to acquire (including acceptances of the Offer1) an aggregate of 3,166,910,285 Shares, representing approximately 81.3% of the issued share capital of CMA.

As the Offer is now unconditional, CMA shareholders whose valid acceptances have been received on or before 16 May 2014 will be paid on 26 May 2014. CMA shareholders whose valid acceptances are received after 16 May 2014 will be paid within 10 days from the date of receipt of their valid acceptances. 

The Offer will close on 9 June 2014, unless otherwise extended.