TPV Technology gets offer of HK$3.86 a share in privatisation bid

Singapore

CEIEC (HK) Limited, and parties acting in concert with it, are proposing to take mainboard-listed electronics company TPV Technology private through a scheme of arrangement.

Electrical components company CEIEC and its concert parties, which include Chinese state-owned enterprise China Electronics Corporation, own 49.04 per cent of TPV shares and are looking to snap up the remaining 50.96 per cent by paying HK$3.86 per share in cash. That represents a premium of about 41.4 per cent over its Hong Kong Exchange closing price on Aug 8.