Chin Hin triggers MGO after raising stake in SIB

TheStar Tue, Feb 06, 2024 12:00am - 3 months View Original


PETALING JAYA: Chin Hin Group Bhd has proposed to acquire 4.77% or 30.29 million ordinary shares in Signature International Bhd (SIB) for RM25.4mil or 84 sen per share.

In a filing with Bursa Malaysia, Chin Hin said it has entered into conditional share sale agreements with Teoh Hai Hin and Por Teong Eng for the proposed acquisition.

As at Jan 16, 2024, Chin Hin and its persons acting in concert (PACs) hold an aggregate 182,295,000 ordinary shares in SIB, representing 28.72% equity interest in SIB.

Upon completion of the proposed acquisition, the aggregate shareholdings of Chin Hin and its PACs in SIB will increase from 28.72% to 33.49%.

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