TDCX’s CEO makes non-binding privatisation offer at US$6.60 apiece

NEW York Stock Exchange-listed TDCX has received a preliminary non-binding proposal letter from its founder and chief executive officer to take the company private, at a proposed purchase price of US$6.60 per share.

Laurent Junique has proposed to acquire all of the outstanding ordinary shares of the company that he and his affiliates do not already own, including the Class A ordinary shares represented by the American Depositary Shares (ADSs) of the company, TDCX said in a Wednesday (Jan 3) press statement.

Shares of TDCX closed US$0.02 or 0.4 per cent lower at US$4.83 on Jan 2, before the announcement. The offer from Junique – who is also its executive chairman and director – represents a 36.6 per cent premium.

Junique beneficially owns approximately 86.1 per cent of all the issued and outstanding shares in the company, representing about 98.4 per cent of its aggregate voting power.

He proposed, in his letter, to finance the transaction with a combination of his own existing cash and a debt facility.

TDCX said it has formed a special committee of the Board, comprising independent and disinterested directors, to consider the proposal and make recommendations.

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It warned that it has just received the proposal and has not made any decision on the proposed transaction. It added that there is no assurance Junique will make a definitive offer, or that any definitive agreement between Junique and TDCX will occur.