Adam Investments Limited (COSE:AINV-N-0000) completed the offer to acquire an additional 2.62% stake in PCH Holdings Limited (COSE:PCHH-N-0000) for LKR 16.5 million.
As on November 27, 2014, the bid price was increased to LKR 2.5 per share resulting in increasing the deal value to approximately LKR 360 million. The tender offer will remain open from November 27, 2014 to December 18, 2014. As of December 2, 2014 Adam Investments Limited increased its stake up to 50.89% and the offer became unconditional. As of December 18, 2014, Adam Investments has extended the offer period until December 26, 2014 as instructed by SEC of Sri Lanka due to delay by PCH Holdings to forward the advice of its Board and Independent advisor's report.
Adam Investments Limited (COSE:AINV-N-0000) completed the offer to acquire an additional 2.62% stake in PCH Holdings Limited (COSE:PCHH-N-0000) for LKR 16.5 million in cash on December 26, 2014. Adam Investments received valid acceptances for 6.6 million shares of PCH Holdings.