China Flexpack CEO offers S$1.25 per share to privatise company

Singapore

THE chief executive of China Flexible Packaging Holdings is offering S$1.25 per ordinary share in cash to privatise the packaging materials maker, valuing the company at a 23.2 per cent premium to its latest market value.

Zeng Hanming, who is also the chairman of China Flexpack, is also offering holders of the company's 4.3 million outstanding warrants 20 Singapore cents per warrant. That offer price reflects the premium that the share offer represents over the warrants' strike price of S$1.05.