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Memtech International's public float falls under 10%

THE Singapore Exchange on Monday said that it would suspend trading of shares in Memtech International on the stock exchange at the close of an offer from the firm's controlling shareholders after the company's free float fell under the 10 per cent mark.

As at 5pm on June 28, the total number of shares owned, controlled or agreed to be acquired by the offeror - and parties acting in concert with it - amounted to about 128.81 million shares, representing about 91.96 per cent of the company.

The Chuang family has made a voluntary conditional offer for the electronics components manufacturer at S$1.35 in cash for each share.

The closing date for the offer is 5.30pm on July 26.