- Milkyway International Chemical Supply Chain (the offeror, 603713 CH) intends to make a pre-conditional general offer to acquire all the issued and paid-up ordinary shares of LHN Logistics (SGX:GIH).
- - Read this at SGinvestors.io -
- A formal offer will be made upon satisfaction of the following two conditions on/before 3 Aug 2023:
- approval from shareholders of parent LHN (SGX:41O) (holds an 84% stake in LHN Logistics), and
- written consent from JTC Corporation for the change in LHN’s indirect ownership in Hean Nerng Logistics (wholly-owned subsidiary of LHN Logistics, which owns the new ISO tank depot property undergoing construction at 7 Gul Avenue).
- - Read this at SGinvestors.io -
- Fragance Ltd (controlling shareholder of LHN) has already irrevocably undertaken to:
- not dispose any shares prior to the formal offer, and
- vote in favour of the resolution granting shareholders’ approval.
- The rationale for the acquisition is:
- Read more at SGinvestors.io.
Above is the excerpt from research report by CGS-CIMB.
Clients of CGS-CIMB may access the full report in PDF @ https://www.itradecimb.com.sg/.
Kenneth TAN CGS-CIMB Research | https://www.cgs-cimb.com 2023-06-05
Previous report by CGS-CIMB:
2023-05-02 LHN Logistics - Waiting For New Initiatives To Bear Fruit.Price targets by other brokers at LHN Logistics Target Prices.
Listing of research reports at LHN Logistics Analyst Reports.
Relevant links:
LHN Logistics Share Price History,
LHN Logistics Announcements,
LHN Logistics Dividends & Corporate Actions,
LHN Logistics News Articles
LHN Logistics - To Be Acquired For S$0.2266 Per Share
LHN Logistics (SGX:GIH)
