SG brief: Procurri and DeClout

Computer coding. Photo by Markus Spiske on UnsplashComputer coding. Photo by Markus Spiske on Unsplash

DeClout‘s mandatory general offer (MGO) for the remainder of Procurri it doesn’t already own has resulted in the offeror owning, controlling or agreeing to acquire around 92.53 percent of the target, according to filings to SGX Monday.

As the holding breached the minimum free-float requirement of 10 percent, shares of Procurri may be suspended from trade, a filing said.

DeClout has said it intends to maintain Procurri’s listing status and doesn’t plan to exercise its right to compulsorily acquire the remaining shares, but it may re-evaluate its position.

Read more: DeClout makes offer for remainder of Procurri