DBS key to Hwang Capital takeover

THE Hwang family’s bid to privatise Hwang Capital (M) Bhd (HCM) is largely dependent on whether the company’s other substantial shareholder, Singapore’s DBS Group Holdings Ltd (DBSG), is willing to dispose of its 27.67% stake.

As the offerors currently hold a 30.59% stake comprising 78.06 million shares as of May 20, acquiring DBSG’s stake would be enough to bring former’s shareholding above the 50% mark whereby the offer would become unconditional.