The Business Times
SUBSCRIBERS

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

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.

    Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.

    allied techPrivatisation

    Copyright SPH Media. All rights reserved.

    Reuse this contentFeedback
    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