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Major shareholder to take Xinren private in S$780m offer

Published Thu, Feb 25, 2016 · 09:50 PM
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Singapore

ALUMINIUM manufacturer Xinren Aluminum Holdings on Thursday said it has received a S$780 million takeover offer from its major shareholder.

The buyer, Merit Stand Inc, will offer to take over the company at S$0.60 per share, which is 25 per cent more than Xinren's last traded price of S$0.48. Merit intends to delist the company.

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