Forterra Trust

Forterra Trust: Substantial stakeholder Nan Fung International (NFI) has launched a mandatory conditional cash offer for Forterra Trust at $1.85/unit, after it exercised its option for 3.1m new units, bringing its stake to 30.8%. NFI is one of the largest privately-owned property developer in HK and also the second largest shareholder of HK-listed Sino-Ocean Land Holdings (3377HK). The offer is conditional upon receiving 50% or more valid acceptances. NFI intends to exercise its right to compulsorily acquire all units in the event it receives 90% or more valid acceptances.