Founding Tan family to take Spindex private in cash offer of 85 cents/share

SINGAPORE-LISTED Spindex Industries Limited has received a cash offer from its founding Tan family, who offered to acquire all the shares of Spindex at 85 cents apiece under a scheme of arrangement.

The offer price represents an attractive premium of some 23.4 per cent over the volume weighted average price for the three-month period up to and including Feb 8.

With the takeover offer undertaken through private vehicle Hong Wei Holdings Ltd, the offeror intends to delist the group.