Junma Tyre proposes voluntary delisting

Catalist-listed Junma Tyre Cord Company is proposing a voluntary delisting, with Ultimative making an exit offer price of 20 Singapore cents - in cash - for all the 15,875,600 offer shares.

Ultimative is a special purpose vehicle incorporated in the British Virgin Islands for the purposes of the proposed exit offer.

Its sole shareholder is Yang Cong, who currently owns a 0.86 per cent shareholding in Junma Tyre. Other parties acting in concert with Ultimative include Yang Cong's father and uncles; together, the concert parties hold a total 57,524,400 shares, representing 78.37 per cent of all the shares of Junma Tyre.

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes