The Business Times
business-time-50
SUBSCRIBERS

Offer for Allied Technologies ‘not fair and not reasonable’: IFA

google-preferred-sourceAdd BT as a preferred source
Nisha Ramchandani

Nisha Ramchandani

Published Sun, Jul 24, 2022 · 10:15 PM
    • IFA Xandar Capital has concluded that the offer for Allied Technologies by SRS Auto Holdings is not fair and not reasonable. Founder of fashion company bYSI, Tan Yew Kiat, is the sole shareholder of private car rental and motor financing company SRS
    • IFA Xandar Capital has concluded that the offer for Allied Technologies by SRS Auto Holdings is not fair and not reasonable. Founder of fashion company bYSI, Tan Yew Kiat, is the sole shareholder of private car rental and motor financing company SRS My Paper

    Independent financial adviser (IFA) Xandar Capital has deemed the acquisition offer for Allied Technologies by SRS Auto Holdings not fair and not reasonable.

    Allied Tech’s independent directors have also agreed with the IFA, and are recommending that shareholders reject the offer.

    At S$0.0088 per share, the privatisation offer values the Catalist-listed precision engineering company at S$15.6 million. The privatisation offer is also 20 per cent lower than the last traded price of Allied Tech’s shares.

    allied techPrivatisation

    TRENDING NOW

    Longest-serving chief minister Taib Mahmud’s legacy looms large over Sarawak as a family feud over his estate threatens to expose skeleton’s in the eastern state’s political closet.

    On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart

    Thailand’s target is to export seven million tonnes of rice globally in 2026, but the Middle East war has turned the world topsy-turvy with supply disruptions, high oil prices and economic uncertainty.

    Thai and Vietnamese farmers may stop planting rice because of the Iran war. Here’s why

    Keppel chief executive Loh Chin Hua is transforming the industrial conglomerate into a global asset manager and operator.

    Are Keppel’s dividends truly unsustainable – or just misunderstood?

    The Category A COE, at S$124,790, is edging closer to its all-time high of S$128,105.

    COEs for large cars up 4.3% at S$126,236, mainstream cars near S$125,000

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More