Niu Ji Xing, Executive Chairman and Chief Executive Officer of Luzhou Bio-chem Technology Limited, intends to make a voluntary conditional general offer to acquire the remaining 58.8% stake in Luzhou Bio-chem Technology Limited (SGX:L46) for SGD 10.5 million on June 30, 2020. Under the terms, Niu Ji Xing will pay SGD 0.03 per share in cash. Niu Ji Xing has sufficient funds to finance the transaction. In the event the Niu Ji Xing receives valid acceptances pursuant to the offer in respect of not less than 90.0% of shares (other than those shares already held), Niu Ji Xing would be entitled to exercise its right to compulsorily acquire all the remaining shares from Shareholders who have not accepted the offer on the same terms as those offered under the offer. In such event, the offeror intends to exercise its right to compulsorily acquire all the shares not acquired under the offer. Niu Ji Xing will then proceed to delist Luzhou Bio-chem Technology Limited from SGX-ST. The transaction is subject to minimum tender of 90% stake and after that transaction will be unconditional. As of August 3, 2020, the Board of Directors of Luzhou Bio-chem Technology Limited, on the recommendations of independent directors and financial advisors, recommended that its shareholders accept the offer. As of August 26, 2020, Niu Ji Xing has received acceptances for 90.02% shares of Luzhou Bio-chem Technology Limited and the transaction has become unconditional. The offer period will close on August 17, 2020. As of August 17, 2020, the offer period extended to August 31, 2020. As of August 26, 2020, the offer period was extended to September 14, 2020. RHT Capital Pte. Ltd acted as financial advisor for Niu Ji Xing. CEL Impetus Corporate Finance Pte. Ltd. acted as the independent financial advisor to the Directors of Luzhou Bio-chem Technology. RHT Corporate Advisory Pte. Ltd. acted as registrar to Luzhou Bio-chem Technology Limited. Niu Ji Xing, Executive Chairman and Chief Executive Officer of Luzhou Bio-chem Technology Limited, completed the acquisition of remaining 58.8% stake in Luzhou Bio-chem Technology Limited (SGX:L46) on September 14, 2020. Shares owned, controlled or agreed to be acquired by Niu Ji Xing (including valid acceptances of the offer) as on September 14, 2020 are 538.89 million representing 90.72% stake and Niu Ji Xing is entitled and intends to exercise its compulsory acquisition right. On October 20, 2020, Niu Ji Xing exercised its compulsory acquisition right to compulsorily acquire all the shares of the dissenting shareholders. On November 12, 2020, SGX-ST has approved the delisting of Luzhou Bio-chem Technology Limited.