DBS acquires Dao Heng with 99% shareholding being subscribed

Dao Heng Bank Group (0223) announced that DBS proposed a whole acquisition to it and by the end of last Saturday, 711 mln shares had been acquired, which accounted for 99.88% of the existing issued shares. DBS exercised its compellet acquisition right and would acquire the rest existing shares. The acquisition was expected to finish on September 3. Dao Heng stopped trading shared in HKEx on July 27 and was expected to be delisted officially on September 4.

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