TKO, through Maybank, received valid acceptances for 149,939,352 shares in the capital of Avarga (SGX:U09) representing 16.51% of the company's share capital, according to a filing with the Singapore Exchange on Monday.
Following the valid acceptances, TKO and concert parties hold a 69.8% stake in the company.
Earlier, Avarga received an unconditional mandatory general cash offer from TKO through Maybank Securities at SG$0.25 per offer share.
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