G Neptune to be taken over by Singapore’s LHO Holdings

G Neptune to be taken over by Singapore’s LHO Holdings

The Edge Markets - Malaysia·2020-01-16 23:20

KUALA LUMPUR (Jan 16): Dormant IT solutions provider G Neptune Bhd has proposed an internal reorganisation that will allow Singapore-owned LHO Holdings Bhd to gain control of the ACE Market company and a backdoor listing for LHO.

As LHO’s parent company, Singapore-based Octopus Holdings Pte Ltd, will hold an 86.09% stake in LHO post reorganisation, Octopus will make a mandatory general offer (MGO) to acquire the remaining LHO shares, allowing shareholders of G Neptune an opportunity to exit the company.

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