Low Keng Huat controlling shareholders up offer price to S$0.78 per share, extend closing date

[SINGAPORE] The offerors for Low Keng Huat have raised the offer price for the property developer to S$0.78 a share from S$0.72 a share.

The offeror Consistent Record – a special purpose vehicle effectively controlled by managing director Marco Low and his family – also said the price was final, and that it does not intend to revise it.

The closing date for the offer has been extended to 5.30 pm on Feb 13, said a bourse filing on Tuesday (Jan 13).

The revised offer price represents an increase of 8.3 per cent or S$0.06 over the initial offer price, and is higher than the highest closing price of Low Keng Huat shares for more than five years, the offeror noted.

Prior to the offer, the offeror held 400.2 million shares, representing 54.2 per cent of shares, in the company. Concert parties held 160.9 million shares, or 21.8 per cent.

As at 6 pm on Jan 13, the offer received valid acceptances from concert parties representing 21.8 per cent of shares, and from other shareholders representing 5.6 per cent of shares.

This brings the total number of shares owned, controlled, or agreed to be acquired by the offeror to 602.4 million, or 81.5 per cent of total shares.

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.

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”.

Shares of Low Keng Huat closed 1.4 per cent higher at S$0.735 on Tuesday, before the announcement.