Sinarmas Land (SGX:A26) made a mandatory tender offer for 382,016,642 shares amounting to 8.01% shares of Suryamas Dutamakmur (IDX:SMDM) at a price of 531 Indonesian rupiahs per share, according to a filing with the Singapore Exchange on Tuesday.
The tender offer will expire on Jan. 15, 2025, the filing said.
The company in August completed the acquisition of Suryamas Dutamakmur from Top Global.
Sinarmas Land acquired 4,390,121,595 shares representing 91.99% of the total paid up and issued shares of Suryamas Dutamakmur for 2.33 trillion rupiahs.
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