Zheneng Jinjiang Environment proposes to take company private at S$0.70 a share or to issue new shares
The company has not tapped the equity capital markets to raise funds since 2018
Zheneng Jinjiang Environment and Jieneng Investment have proposed taking the company private at S$0.70 per share or issuing new shares. Shareholders can choose between cash or share consideration, with non-selection resulting in cash being preferred. The offeror aims to delist the company from Singapore Exchange to gain greater operational flexibility.
The offer represents a significant 50.5% premium above the average share price in the past month. No changes to current business operations or staffing are planned. Regulatory approval is required, and shareholders will vote on the dividend at an upcoming EGM.
Written by urgent.news from The Business Times - Companies & Markets's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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