Allied Technologies discloses married deal involving 114m shares for S$7.1m

ALLIED Technologies on Wednesday submitted a filing notifying the Singapore Exchange that one Lin Tah Hwa had on Nov 28 accumulated an 8.44 per cent stake in the manufacturer of precision stamped metal parts, by buying up 114 million shares for S$7.068 million.

This translates to a unit price of S$0.062 per share.

This was done through a married deal, which is an off-the-market share transaction between two parties on an agreed price.

The buyer had no prior stake in the company. Following the acquisition, the buyer is now considered a substantial shareholder.

On the stock market on Wednesday, Allied traded flat at S$0.068 at 1.26pm, with 6.8 million shares changing hands.