AEM-acquired CEI to delist on July 6

FOLLOWING the completion of the acquisition of dissenting shareholders' stakes by the offeror AEM Singapore on July 5, CEI will be delisted on July 6.

Contract manufacturer CEI was acquired by a wholly-owned firm of electronics services provider AEM Holdings at S$1.15 per share, with an option for shareholders to go for all cash or cash with new AEM shares.

As the compulsory acquisition of the stakes owned by the minority who did not accept the offer has been completed, CEI in a regulatory filing on Monday to the Singapore Exchange announced its delisting from the mainboard at 9 am on Tuesday.

AEM launched a S$99.7 million acquisition offer for CEI in January. It had said it planned to continue developing the business and did not intend to introduce any major changes.

AEM shares closed 0.26 per cent higher at S$3.92 on Monday.