Dyna-Mac shareholders may have dodged a bullet as company delists
Investors must scrutinise offers closely as M&A activity ticks up
Add BT as a preferred source
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.
TRENDING NOW
CSE Global independent director quits after clashes with chairman Eugene Lai over board refresh
What’s wrong with Orchard Road? Experts weigh in on the street’s cachet and its future
‘I felt like dying’: Thai Singha beer scion speaks up after disclosure of alleged sexual abuse
Rare brutalist Singapore house opens to the public before changing hands
