3HA Capital Pte. Ltd. Revamps Bid for CosmoSteel Holdings Limited, Offers Revised Final Price of S$0.25 per Share

Strategic Insights -

3HA Capital Pte. Ltd., the Offeror, announced a revised final offer price of S$0.25 per share to acquire all issued ordinary shares in CosmoSteel Holdings Limited, marking a 25% increase from the initial voluntary conditional offer of S$0.20. The offer, which initially closed on July 14, 2025, was extended until July 28, 2025, due to sufficient acceptances. As of July 23, 2025, the offer had garnered valid acceptances for nearly 229 million shares, representing approximately 87.88% of the total voting rights.

Key Takeaways:

  • The revised final offer price of S$0.25 per share represents a 25% increase from the initial offer of S$0.20.
  • The offer has been declared unconditional, with the Minimum Acceptance Condition satisfied as of July 7, 2025.
  • As of July 23, 2025, the offer has received valid acceptances for nearly 229 million shares, representing approximately 87.88% of the total number of voting rights.
  • The closing date for the offer was extended from July 14, 2025, to July 28, 2025.
  • If the Offeror receives valid acceptances for 90% of the total number of voting rights, it will be entitled to compulsorily acquire all shares of non-accepting shareholders.
  • The Offeror has confirmed that this is its final offer and will not revise the final offer price.

Statistics:

  • S$0.25: the revised final offer price per share
  • 25%: the increase in offer price from S$0.20 to S$0.25
  • 229 million: the number of valid acceptances as of July 23, 2025
  • 87.88%: the percentage of total voting rights represented by valid acceptances
  • 14 July 2025: the original closing date for the offer
  • 28 July 2025: the extended closing date for the offer

Sources:

  • SGX announcement [1]