SINGAPORE – The offer to buy Singapore's third largest telco M1 has crossed a key threshold.
Keppel Corp., together with Singapore Press Holdings, currently holds 90.15 percent of M1's shares through their joint venture firm Konnectivity, according to Singapore Exchange filing on Wednesday (Feb. 27).
This means that M1 will be delisted as the public float has fallen below 10 percent. The mainboard-listed company no longer meets the free float requirement of Singapore Exchange.
Shareholders who may not want to hold shares in an unlisted company should consider accepting Konnectivity's offer of $ 2.06 per share by March 18.