The Business Times
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HOCK LOCK SIEW

Dyna-Mac shareholders may have dodged a bullet as company delists

Investors must scrutinise offers closely as M&A activity ticks up

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Jude Chan

Jude Chan

Published Thu, Jan 2, 2025 · 05:00 AM
    • It could be argued that a large part of Dyna-Mac’s success – from contract wins to workers’ productivity and morale – hinged on the personal pull of its former CEO Lim Ah Cheng.
    • It could be argued that a large part of Dyna-Mac’s success – from contract wins to workers’ productivity and morale – hinged on the personal pull of its former CEO Lim Ah Cheng. PHOTO: DYNA-MAC

    WHEN South Korean conglomerate Hanwha first launched its cash offer for shares in offshore oil-and-gas contractor Dyna-Mac in September 2024, it purportedly had no plans to take the Singapore-listed company private.

    To be precise, offeror Hanwha Ocean SG said then that it “does not have any present intention to actively pursue the delisting” of Dyna-Mac from the mainboard of the Singapore Exchange.

    However, Hanwha also made it clear that, should trading in Dyna-Mac shares be suspended if it loses its free float – with less than 10 per cent of its shares in public hands by the end of the offer – the offeror would not undertake or support any action for the trading suspension to be lifted.

    Hock Lock Siewdyna-macM&A

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