St James’ reverse takeover deal with Perennial gets green light from SGX

It’s for a Purchase Consideration of approximately S$1.56 billion.

The SGX has given its approval in-principle for the reverse takeover of Catalist-listed St. James Holdings Limited by Perennial Real Estate Holdings Pte. Ltd, for a total purchase consideration of approximately $1.56 billion.

Following the acquisition, St. James will be renamed as Perennial Real Estate Holdings Limited and listed on the Main Board of the Singapore Exchange. The purchase will be satisfied by the allotment and issuance of new ordinary shares in the capital of the Company at an issue price of S$0.0267 for each Consideration Share.

St. James’ entertainment business will be fully divested to City Bar Holdings.

The SGX-ST has given its approval in-principle on 5 September, Friday.