Tat Hong CEO, StanChart PE launch bid to take crane supplier private at S$0.50 a share

Singapore

THE fervent speculation about a takeover of Tat Hong Holdings has proven to have substance.

The crane supplier's chief executive and Standard Chartered's private equity arm have launched a privatisation bid for the mainboard-listed crane supplier at S$0.50 a share.

A preconditional offer announcement, released late on Thursday night, cited Tat Hong's low trading volume and the compliance cost of maintaining a listed status as reasons behind the bid to delist the company.

The offering vehicle, THSC Investments, also believes that a privatised Tat Hong will yield more flexibility in business management and optimise resource use, …