In a press statement, CLSB said both offeror and the ultimate offeror holds 55.21% stake or 71.03 million shares in CLSB as of 5pm on Wednesday. “Accordingly, the offer has met the acceptance condition and the offer has become wholly-unconditional on Jan 5, 2022,” it added. This means Ong and Hextar Tech have acquired 26.1% stake or 33.58 million shares after the offer was launched. Previously, Ong holds 37.45 million shares in CLSB, representing about 29.11% of CLSB's issued shares. The firm added that the asset-based approach using RNAV is the most appropriate valuation method to arrive at the fair value of CLSB shares.
