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.
Do you know more about this story? Contact us anonymously through this link.