FFrasers Property (Thailand) announced its intention Monday to make a tender offer for all of Golden Land Property that values the company at 19.75 billion baht (S$855.38 million or US$621.27 million). The offer works out to 8.50 baht each for all of Golden Land’s 2.32 billion shares.
Frasers Property (Thailand) already holds 927.64 million Golden Land shares, equivalent to a 39.92 percent stake, the filing said.
The filing said the official submission of the tender offer is expected on 4 June.
The announcement of intention to make a tender offer form was submitted to SGX Tuesday, after being filed to Thailand’s Securities and Exchange Commission, the Stock Exchange of Thailand and Golden Land on Monday.
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