The special-purpose vehicle will exercise its right to compulsorily acquire all remaining shares at the offer price of S$0.78 a share
[SINGAPORE] The privatisation offer for construction and property developer Low Keng Huat succeeded on Friday (Feb 13), with valid acceptances representing 96.88 per cent of the total shares.
As at the close of the offer at 5.30 pm on Friday, the total number of shares owned, controlled or agreed to be acquired by Consistent Record, together with valid acceptances of the offer, amounted to about 715.8 million shares.
Consistent Record – a special-purpose vehicle effectively controlled by managing director Marco Low and his family – will exercise its right to compulsorily acquire all remaining shares at the offer price of S$0.78 a share.
Low Keng Huat will subsequently be delisted from the Singapore Exchange.
Consistent’s Low said he intended to delist the company to save on compliance costs and gain greater flexibility to manage the business amid a “challenging macro and operating environment”.
The S$0.78 apiece offer price was revised in January, representing an increase of 8.3 per cent or S$0.06 over the initial offer price of S$0.72 a share. It is also higher than the highest closing price of Low Keng Huat shares for more than five years.
In December 2025, the majority shareholders of Low Keng Huat launched a voluntary conditional general offer to take the mainboard-listed construction and property developer private.
In the offer announcement, the offeror noted that the company has no need for access to equity capital markets – it has not raised any funds from the Singapore equity capital markets since a rights issue in 2007.
Shares of Low Keng Huat ended Friday 0.7 per cent or S$0.005 higher at S$0.78, before the announcement.
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