Monday Suspension

$L03.SG$
ON Monday, the Ong family which controls civil engineering and construction group Lian Beng announced a mandatory conditional cash offer at 50 Singapore cents per share, following a married deal.

The family had, through its investment holding company Ong Sek Chong & Sons, acquired nearly 5.9 million shares or about 1.2 per cent of the total number of issued and paid-up ordinary shares issued by Lian Beng Group.

Prior to the market acquisition, Ong Sek Chong & Sons and its concert parties held about 43.6 per cent of voting rights in Lian Beng. With its recent acquisition of more than 1 per cent of shares in Lian Beng, it was required to extend a mandatory offer.

The offer price represents a premium on the last traded price of 47 Singapore cents on June 11, the last trading day, the announcement said.

Wonder if they open will the price shoot or drop further 🤨🤨🤨🤨🤨