Oxley scoops up more UE shares, raises stake to 11.57%

By PC Lee
/ The Edge Singapore |
Join our  Telegram  channel and follow our  Facebook  for the latest update.
SINGAPORE (Aug 23): Oxley Holdings now holds an 11.57% stake in United Engineers, the property development and engineering company, which is in the midst of a takeover offer.
This comes after Oxley, led by CEO Ching Chiat Kwong, amassed a total of 5.3 million shares at an average price of $2.688 each from the open market over the past week, according to a filing by Oxley on Tuesday night.
The average price is 3.4% more than the $2.60 per share cash offer tabled by consortium led by Perennial Real Estate Holdings and Yanlord Land Group.
Oxley Tower
The offeror and its concert parties currently hold a combined stake of about 33.4%. The takeover bid will turn unconditional only if the offeror gains control of at least 50% of United Engineers’ shares.
The story, written by PC Lee, first appeared on The Edge Singapore.

Follow Us
Follow our channels to receive property news updates 24/7 round the clock.
EdgeProp Telegram
EdgeProp Facebook
Subscribe to our newsletter

Our Site

Edgeprop.sg (previously known as The Edge Property Singapore) is the best property portal for real estate agents, investors, home-seekers and sellers alike in Singapore. On EdgeProp, you will be able to find the latest and hottest property news, property listings, and access tools for your research and analysis.

Whether you are looking to buy, sell or rent apartments, condominiums, executive condos, HDBs, landed houses, commercial properties or industrial properties, we bring you Singapore’s most comprehensive and up-to-date property news and thousands of listings to facilitate your property decisions. Click into any listing to check out the new AI Redesign tool to envision your property based on your preferred style, be it Scandinavian, Minimalist or many others.

View More