Challenger taps Dymon Asia for cash to pursue strategic initiatives without excluding minorities
With remote likelihood of another privatisation bid, interests of controlling shareholders and minorities have been realigned
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WHEN Challenger Technologies tried to go private more than two years ago, it told minority investors that the electronics retail sector was saturated, competitive and facing disruption from the rise of e-commerce.
"To navigate this challenging environment, changes to the business may need to be implemented and dividends could be affected during such time," the company said when the proposal was first announced.
Many minority shareholders - including a firm called Pangolin Investment Management - baulked at what they felt was a miserly offer price.
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