China Yongsheng to delist at S$0.032 a share

Catalist-listed concrete supplier China Yongsheng is being taken private at S$0.032 a share in a buyout by its management and related parties.

This is 52 per cent above the last transacted price of S$0.021 and 35 per cent above the one-year volume weighted average price of the shares of S$0.0238.

The offeror said shares have been trading at a substantial discount to the net asset value per share of the group, which stands at S$0.0471 as of end-2015.

China Yongsheng shares are currently halted from trading.