Teckwah suspends trading after close of privatisation offer

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.