Ngiam family also exiting IPC takeover deal

Singapore

IPC Corp's Ngiam family and Catalist-listed Asia-Pacific Strategic Investments (APSI) have called off the deal for the latter to acquire their shares in IPC.

IPC said in a statement on Wednesday that the termination of APSI's offer for 11.9 million shares - or a 13.95 per cent stake held collectively by IPC chief executive Patrick Ngiam and other executive directors - was "with mutual consent".