HG Metal Manufacturing Limited (SG:BTG) has released an update.
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Green Esteel Pte. Ltd. has announced a mandatory conditional general cash offer to acquire all issued and paid-up ordinary shares of HG Metal Manufacturing Limited, except for those already owned or agreed to be acquired by Green Esteel and its affiliates. This move aligns with Green Esteel’s compliance with Singapore’s regulatory requirements following a substantial acquisition of shares. The offer is connected to HG Metal’s recent renounceable non-underwritten rights issue, which could lead to Green Esteel making a mandatory general offer for the company.
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