Privatisation offer for Penguin extended to Jul 6

THE offer to acquire Penguin International and delist it will now close on Jul 6 and not Jun 22, after the consortium making the bid announced a later closing date in a regulatory filing on Wednesday (Jun 21).

The offeror – a consortium comprising Penguin’s managing director and a special purpose vehicle under private equity firm Dymon Asia – and persons acting in concert had by 6pm on Wednesday garnered 86.83 per cent of the total shares in the designer, builder, owner and operator of aluminium high-speed craft.

The offer was priced at S$0.82 a share when it was launched in early May, with the deal sweetened by S$0.01 apiece about 10 days later.

Penguin International closed 0.6 per cent higher at S$0.835 on Wednesday, before extension of the offer was announced,