US$1.02/share offer once 'conditional': Singapore's Cogent Holdings Requests Trading Suspension Following Cosco Shipping's Cash Offer

Singapore's Cogent Holdings Requests Trading Suspension Following Cosco Shipping's Cash Offer
January 22, 2018 https://asia.nikkei.com/Markets/Nikkei-Markets/Singapore-s-Cogent-Holdin...

SINGAPORE (Jan 22) -- Singapore's Cogent Holdings requested a suspension of its share trading Monday as a result of Cosco Shipping International (Singapore) Co.'s offer for all Cogent shares, according to an exchange filing.

The offer closed Friday and Cosco Shipping can now compulsory acquire all Cogent shares at the offer price of S$1.02 in cash.

Cosco Shipping has received acceptances for 470.41 million shares of a total of 478.50 million shares, a statement on Jan. 19 said.

Cosco Shipping's offer valued Cogent at S$490 million ($371 million), according to local news media reports on Nov. 4. Cosco Shipping will delist Cogent.

Cosco cash offer for Cogent goes unconditional
Tan Hwee Hwee Jan 3, 2018 http://www.straitstimes.com/business/companies-markets/cosco-cash-offer-...

SINGAPORE - The S$1.02-a-share cash offer of Chinese shipping company Cosco Shipping International (Singapore) for Cogent Holdings has become unconditional with the offeror having received valid acceptances representing about 92.05 per cent of the total number of shares.

As at 5pm on Jan 2, 2018, Cosco has received valid acceptances representing 92.05 per cent of the total number of Cogent shares, Bank of China announced on behalf of Cosco after Tuesday's trading hours.

With the offer turned unconditional, Cosco will exercise its compulsory acquisition right and proceed to delist Cogent Holdings from the Singapore Exchange.