Tat Hong to delist on Friday morning after successful buyout
Add BT as a preferred source
Annabeth Leow
TAT Hong Holdings will be delisted on Friday at 9am, completing a takeover bid involving the chief executive, the board announced on Thursday morning.
The mainboard-listed crane supplier said the day before that all its shares have been successfully acquired by a tie-up between the family of CEO Roland Ng, and Standard Chartered's private equity arm.
The privatisation offer of S$0.55 a share closed on June 4, after netting valid acceptances from shareholders with a combined 93.62 per cent interest in Tat Hong. Shareholders who did not accept the offer have since been compulsorily bought out.
The bidder has said that privatisation will give management more flexibility and allow company resources to be used better.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Orchard plot, Jurong East EC, Raffles Town Club site among 10 new housing parcels in H2 GLS plan
Geopolitical risks must be considered before investing in tech: Temasek chairman Teo Chee Hean
Don’t just pump money – Temasek’s portfolio firms, markets must create inherent value: Teo Chee Hean
Indonesia’s commodity export shake-up sparks industry alarm, investor jitters
