Primero Investment's offer to privatise Perennial Real Estate closes

SGX-ST gave their approval to the latter’s delisting.

The offer to privatise Perennial Real Estate has now closed and is now headed for delisting, a local bourse filing revealed.

This is relation to the the voluntary conditional cash offer the consortium Primero Investment Holdings made for all the issued and paid-up ordinary shares in the capital of the Company

The total number of shares owned, controlled or agreed to be acquired by Primero Investment Holdings as at 5.30 PM on 17 August amounted to an aggregate of around 1.65 billion shares. It represents approximately 99.01% of the total number of issued shares and 99.01% of the maximum potential issued share capital of the company.

Further, the total number of exercisable options owned, controlled, acquired or agreed to be acquired by Primero Investment amounts to an aggregate of 39.84 million options, representing 100% of the total number of exercisable options.

This also follows after Perennial Real Estate made an application to the SGX-ST to seek approval for the company to be delisted from the SGX-ST on 24 July. The local bourse then stated that they have no objection to the delisting.

Following the deal, the firm would become a subsidiary of Primero Investment Holdings.