ONG Holdings is the target of a general cash offer of $1.265 per share from Forma Property Investments following an agreement between Forma and substantial shareholders for Forma to take a 55.3 per cent stake in the company. The offer values the company at about $120.4 million. The shareholders in Forma are Shanghai International Securities, one of China's biggest securities houses, Mr Leo Lee of the Tung Tai group, Zamotus Investment and Makeway Investment.
