Changtian Plastic receives S$17.2m takeover offer from its founders
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Anita Gabriel
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Singapore
MAINBOARD-listed Changtian Plastic & Chemical has received a takeover offer worth S$17.2 million from its two founders and major shareholders at S$1.30 per share cash.
The announcement was made by RHT Capital to the Singapore Exchange on behalf of the offeror, United Tech Industries - a privately held vehicle incorporated in the British Virgin Islands and owned by Yang Qingjin and Chen Yongfu, Changtian Plastic's chairman and deputy chairman respectively and also the company's founders. (Mr Chen is Mr Yang's brother-in-law).
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