Fischer Tech gets shareholders' nod for sale to investment firm for S$168m

FISCHER Tech - a plastic precision engineering company - said its expected last day for trading of its shares is on October 27. This comes as the scheme of arrangement proposed to have it acquired by Platinum Equity Advisors' investment fund unit FT Holding II, has been approved.

The offer of S$3.02 a share in cash from Platinum - a global investment firm with US$13 billion of assets under management - values Fischer Tech at S$168.45 million.

Scheme of arrangements are approved when more than three-quarters of present and voting shareholders give their nod.