<article>Property developer <a style="color: #0000ff" href="http://www.linkthm.com.sg/">Link (THM) Holdings</a> plans to list on the Singapore Exchange through a reverse takeover of listed company Ocean Sky International in a $226-million deal.</article>

Property developer <a style="color: #0000ff" href="http://www.linkthm.com.sg/">Link (THM) Holdings</a> plans to list on the Singapore Exchange through a reverse takeover of listed company Ocean Sky International in a $226-million deal.
Ocean Sky provides building and civil engineering contract services primarily in Singapore
This takeover will be an opportunity for Link to expand its property development business and diversify into the construction and engineering business, which will allow it to achieve a more consistent and sustainable financial growth.
According to the company’s filing, Ocean Sky will issue 642.75 million shares to the Vendors including Link’s owner Tan Heng Mong, and the arranger at 35.2 cents each, after the consolidation of two existing shares into one new share. The lot of new share issued will represent 74.1 per cent of its enlarged issued share capital, once the deal is completed.
Also read: <a style="color: #ff0000" title="Singapore’s Equis Fund invests $116m in India’s Assetz Property" href="http://www.dealstreetasia.com/stories/equis-fund-invests-116m-assetz-property-3042/" rel="bookmark">Singapore’s Equis Fund invests $116m in India’s Assetz Property</a>
In the reverse merger transaction, Link will acquire Ocean Sky International mainly from ANA Asia Limited, Ang Boon Cheow Edward, Ang Boon Chong, Charisma Asia Limited and other shareholders.
Ocean Sky may also issue an additional earn-out consideration of up to 142.05 million new shares, depending on its performance and achievement of net profit target for the financial year 2015 and 2016.
The completion of transaction is subject to approval by shareholders of Ocean Sky, due diligence investigation of Link, listing of all new shares on exchange, entry into definitive agreements, and approval of Singapore Exchange Securities Trading Limited.
Link and its subsidiaries have been engaged in property development for more than 10 years. So far, it has completed and sold 30 luxurious landed houses in Singapore with a total land area of approximately 10,000 square meters.
It also develops an industrial property in the vicinity of Jalan Bukit Merah, residential apartments, and an integrated mixed development project in Malaysia.

Property developer Link Holdings plans to list on Singapore Exchange through a reverse takeover of listed Ocean Sky International in a $226-million deal.

Link Holdings plans IPO via reverse takeover

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief

Link Holdings plans IPO via reverse takeover

Start your deal-making journey now!

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief