Frasers Property Thailand announces bid for Golden Land Property, valuing company at S$855M

Thai baht notesThai baht notes

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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