Tycoon Gordon Tang and wife raise their offer for Suntec Reit to $1.19 per unit

Property tycoon Gordon Tang and his wife Celine, through their vehicle Aelios, have increased their cash offer for Suntec Real Estate Investment Trust (Reit) to $1.19 per unit, from $1.16 previously.

- Ann Williams

The revised offer, announced after the stock market closed on Jan 8, represents a 2.6 per cent premium to Suntec Reit's closing price on Dec 4, the last trading day before the original offer was made.

Unit holders who have accepted the previous offer are also entitled to the revised offer price, subject to the offer becoming or being declared unconditional in all respects. Additionally, the closing date of the offer has been extended to 5.30pm on Feb 5.