LHN Logistics - CGS-CIMB Research 2023-06-05: To Be Acquired For S$0.2266 Per Share

LHN Logistics - To Be Acquired For S$0.2266 Per Share

Published:
LHN Logistics (SGX:GIH) | SGinvestors.ioLHN Logistics (SGX:GIH)
  • 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:
    1. approval from shareholders of parent LHN (SGX:41O) (holds an 84% stake in LHN Logistics), and
    2. 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:
    1. not dispose any shares prior to the formal offer, and
    2. 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 Dividend Payout Dates & Corporate Actions,
LHN Logistics News






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