Founders taking Spindex private at S$0.85 a share

Singapore

SINGAPORE-LISTED Spindex Industries Limited has received a cash offer from its founding Tan family, who offered to acquire all the shares of the group at 85 Singapore cents apiece under a scheme of arrangement.

The offer price represents a premium of 21.4 per cent over the last traded price on Wednesday and 23.4 per cent over the volume weighted average price for the three-month period up to and including Feb 8. Trading of the shares was halted on Thursday and will be lifted on Friday.

The takeover offer is undertaken through private vehicle Hong Wei Holdings Ltd, which said it intends to delist the grou…