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

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

PC Lee Published on Fri, Mar 02, 2018 / 8:01 PM GMT+8

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SINGAPORE (Mar 2): Asset trader Oei Hong Leong is withdrawing his acceptance of an offer by Asia-Pacific Strategic Investments (APSI) for his stake in IPC Corp.

On Jan 29, APSI had entered into a conditional letter of offer to acquire a 46.91% stake in IPC with 32.96% coming from Oei and the other 13.95% from IPC 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.

See: Asia-Pacific Strategic Investments issues letter of offer to acquire shares in IPC