Celine Tang, Chip Eng Seng’s chairperson, and her husband Gordon Tang, are offering 72 cents to buy over more shares of the company they don’t already own.
If they gain more than 90% of the shares, the Tangs will exercise their right to compulsory acquire all remaining shares and take the company private.
The Tangs now hold 38.23% of the company and Yang Chanzhen, Gordon’s mother, and Tang Jialin, the couple’s son, hold another 3.22% via an entity called Senz Holdings.
