China Yongsheng to go private at $0.032 per share

It will be bought out by its management.

China Yongsheng, a Catalist-listed company which supplies concrete products in China, will delist from the Singapore Exchange.

The group’s owners and other related parties will offer $0.032 per China Yongsheng share, representing an increase of 52% compared to its last traded price of $0.021 per share.

The offeror noted that China Yongsheng will delist because shares have been trading at a substantial discount to the net asset value per share of the group, which stands at $0.0471 as of end-2015.

The company has an issued and paid-up share capital of 1,663,900,000 Shares and does not have any outstanding options, rights, warrants or other instruments convertible into, exercisable for or redeemable with, any shares.