06 Apr 2015
Mandatory Conditional Cash Offer For All Issued and Paid-up Ordinary Shares in the Capital of IPC Corporation Ltd
Goh Kian Hwee, Lawrence Tan, Hoon Chi Tern and Lim Ee Nian, from the Capital Markets / M&A Practice Group are acting for Oei Hong Leong, (the “Offeror”), in his mandatory conditional cash offer for all the issued and paid-up ordinary shares in the capital of IPC Corporation Ltd (“IPC”) other than those already owned, controlled or agreed to be acquired by the Offeror, which values IPC at S$145 million based on an offer price per IPC share of S$0.17.
IPC is engaged in the investment and development of properties primarily in Asia Pacific and America. The businesses of IPC and its subsidiaries include investment holding, property investment, property development, investing and reselling properties, property consulting and sale and distribution of telecommunication products.
Mr. Oei Hong Leong is a Singaporean businessman with interests in a range of industries including property development and property holding. Mr. Oei is the Chairman of, among others, Oei Hong Leong Foundation Pte. Ltd., Oei Hong Leong Art Museum Limited and Canadian Metropolitan Properties Corporation. He is also a substantial shareholder of two publicly listed companies in Singapore