Teckwah suspends trading after close of privatisation offer
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
MAINBOARD-LISTED Teckwah Industrial Corp requested a suspension in the trading of its shares with immediate effect on Tuesday morning.
This comes after the voluntary cash offer for the packaging, printing and logistics firm closed on Oct 27, with the offeror and its concert parties receiving valid acceptances of about 95.9 per cent of the total number of issued shares.
In August this year, Clementine Investments - a consortium of Teckwah's three largest shareholders - offered to take the company private at 65 Singapore cents per share.
Earlier this month, Teckwah also noted that the privatisation bid had turned unconditional with the company losing its free float.
Teckwah shares last traded at 64.5 Singapore cents on Oct 22.
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.
Copyright SPH Media. All rights reserved.
TRENDING NOW
StarHub hands Ensign InfoSecurity control back to Temasek in S$115 million deal, books S$200 million gain
Singaporeans can now buy record amount of yen per Singdollar
Air India asks Tata, Singapore Airlines for funds after US$2.4 billion loss
Keppel DC Reit posts 13.2% higher Q1 DPU of S$0.02833 on strong portfolio performance
