Data centre firm Helyon takes 64% of SGX-listed Green Build in $7.49M deal
What's the deal? Helyon Pte. Ltd.Dealroom has a profile for this one. Try Dealroom → has completed a US$7.04M (≈$7.49 million) placement in SGX-listed Green Build Technology LimitedDealroom has a profile for this one. Try Dealroom →, taking roughly 63.68% of the enlarged share capital. The move crossed Singapore's control threshold, triggering a mandatory unconditional cash offer for all remaining shares at US$0.01 each.
How it works: Helyon subscribed to 600,000,000 new shares at US$0.01 apiece, completing on October 14, 2026, after shareholder approval at an extraordinary general meeting on October 6. Green Build's issued capital rose from US$19.9M to US$26.9M.
Why now? Under Section 139 of the Securities and Futures Act 2001 and Rule 14 of the Singapore Code on Take-overs and Mergers, crossing the control threshold obliges Helyon to bid for shares it does not already own. The offeror has stated the US$0.01 price is final and that it does not intend to revise it.
Who's buying? Helyon, incorporated in Singapore on April 14, 2026, lists data centres as its primary business. It is 80% held by Weyms Pte. Ltd.Dealroom has a profile for this one. Try Dealroom → and 20% by Haciendas Management Pte. Ltd.Dealroom has a profile for this one. Try Dealroom →, with Seah Kiat Seng as sole director.
What about shareholders? Non-subscribing holders face significant dilution. Helyon also received 360,000,000 free, non-transferable warrants exercisable at US$0.01 each, which if fully exercised would add shares equal to roughly 38.2% of current enlarged capital and raise up to US$5.28M. The company has not disclosed how the US$7.04M proceeds will be used.
What could go wrong? Holders of 181,834,711 shares, about 19.30% of total issued stock, have given irrevocable undertakings not to accept the offer. If acceptances push Helyon and concert parties above 90% and the public float drops below 10%, trading may be suspended, with delisting possible if the float is not restored within three months.
What's the endgame? Helyon says it currently intends to keep Green Build's SGX-ST listing and has no present plans for major business changes, asset redeployment, or layoffs outside the ordinary course. It added that it retains flexibility to review the company's businesses after the offer closes, committing to no specific strategic direction.
The signal: A data centre-focused buyer taking control of a listed construction materials firm — at a price pitched below every historical benchmark cited — points to an opportunistic entry rather than a premium buyout, leaving minority holders to weigh a final, discounted exit against dilution.
Read more: minichart.com.sg
Image credit: cbowns
