-- Helyon made a mandatory unconditional cash offer to acquire the remaining stake in Green Build Technology (SGX:Y06) at SG$0.016 per share, according to a Wednesday filing with the Singapore Exchange.
Shares of the enterprise resource planning provider for real estate sector surged over 90% in Thursday trading.
The offeror is subscribing for around 600 million shares for SG$9.6 million and will also receive an additional free 360 million non-listed non-transferable warrants at SG$0.02 per share.
The 600 million shares amount to 63.68% of the company's enlarged capital.
Meanwhile, Helyon intends to preserve the company's listing status upon completion of the offer.