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Asia-Pacific Strategic Investments accepts Oei's withdrawal

PC Lee Published on Mon, Mar 05, 2018 / 10:22 PM GMT+8

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SINGAPORE (Mar 5): Offeror Asia-Pacific Strategic Investments (APSI) has accepted Oei Hong Leong’s withdrawal to sell his 32.96% stake in IPC Corp.

See: Oei Hong Leong withdraws acceptance of offer for his 33% stake in IPC

Despite this, APSI intends to proceed with the acquisition of 11.9 million IPC shares from chairman and chief executive Patrick Ngiam, managing director Benjamin Ngiam, executive directors Alfred Ngiam and Lauw Hui Kian and Essex Investments (S) and their nominees, otherwise known as the "remaining APSI acquisition".

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