Green Build Technology Receives Cash Offer for Remaining Stake from Helyon; Shares Slide 12%

MT Newswires10-15

Green Build Technology (SGX:Y06) said Helyon launched a mandatory unconditional cash offer for the remaining shares it does not own in the company, according to a Wednesday bourse filing with a Singaporean bourse.

Under the deal, Helyon was required to make an offer for the balance holding after it acquired 600 million new shares in Green Build.

The offer price represents discounts of 20% to Green Build's last traded price on April 13. Helyon said the offer price is final and will not be revised.

Helyon has received irrevocable undertakings from five shareholders holding a combined 19.3% stake not to accept the offer.

The offeror intends to maintain Green Build's Singapore listing and has no current plans for major business changes, it said.

Shares of Green Build fell nearly 12% in Thursday's morning trading.

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