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
Zhenang Jinjiang Environmental has proposed a scheme to take the company private at S$0.70 per share or issue new shares. Shareholders can choose between receiving cash or shares as consideration, with the latter being the default if no choice is made. The offeror aims to delist the company from the Singapore Exchange, believing it will provide greater flexibility and optimal capital deployment.
Jieneng Investment, a Hong Kong-based investment holding company, is leading the privatization. The offer represents a substantial premium compared to historical market prices. The scheme requires regulatory approval and will not affect existing dividends or business operations. Shareholders will vote on the board-recommended dividend at an upcoming extraordinary general meeting.
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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