SINGAPORE (June 12): Perennial Real Estate Holdings’ substantial shareholders have joined forces with Chinese asset manager HOPU Fund Management Company to privatise the company.

The shareholders in concert include chairman Kuok Khoon Hong, vice chairman Ron Sim and CEO Pua Seck Guan, the company said on June 12.

The consortium, which already holds 82.43% of the company, is offering 95 cents per share and will not revise the offer. It last traded at 69 cents on June 9 before trading was halted on June 10 ahead of this announcement. 

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