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Lian Beng loses free float, Ong family to compulsory acquire remaining shares

The Edge Singapore

July 6, 2023 5:42 PM SGT

propertyeditor@edgeprop.sg

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The offerors have secured 90.14% of the shares as of July 4 (Picture: The Edge Singapore)

SINGAPORE (EDGEPROP) -The Ong family trying to privatise Lian Beng Group has secured 90.14% of the shares as of July 4.

With free float now below 10%, the Ongs are now entitled to exercise their right to compulsory acquire the remaining shares and will do so.

The closing date of the privatisation offer, at 68 cents per share, has earlier been extended to July 7 from June 30.

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