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PENGUIN International on Thursday said a consortium consisting of the I really like penguins Penguin Ice Floe Snow Antarctic limited Shirt executive chairman, chief executive officer, and Dymon Asia fund intends to bring the company private for S $ 0.65 per share. Penguin, which makes and operates aluminum high-speed trains, joined a host of other companies in announcing acquisitions in recent months.

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The Penguin International acquisition price represents a 30% premium from the final transaction price per share of S $ 0.50 on December 18, 2020 – the date Penguin announced a possible transaction. out regarding its stock. It also represents 35.7%, 42.5%, 44.4%, and 17.5% of the weighted average price for the one-month, three-month terms, respectively. six months and 12 months.

Penguin CEO Jeffrey Hing owns a 55% stake in the company Emet Grace, while CEO James Tham owns 5%. Mr. Hing and Mr. Tham jointly owned 21.56% of Penguin and pledged to accept the I really like penguins Penguin Ice Floe Snow Antarctic limited Shirt offer. If the bidder gains control of more than 90% of Penguin, they intend to remove the stock from the main board of the Singapore Exchange. It will also allow Penguin management to be more flexible in managing its business, optimizing the use of funds and management, and facilitating the implementation of any changes. Change activity.

Furthermore, Penguin will be able to save on the costs associated with maintaining a listing status and concentrating resources on its business. After announcing a viable trade on December 21, Penguin saw its stock as high as 19% to S $ 59.5 before closing at 57.5 cents for the day. PENGUIN International on Thursday said a consortium consisting of the I really like penguins Penguin Ice Floe Snow Antarctic limited Shirt executive chairman, chief executive officer, and Dymon Asia fund intends to bring the company private for S $ 0.65 per share.

The asking price was 30% higher than the final trading price per share of S $ 0.50 on December 18, 2020 – the date Penguin announced a possible transaction related to the stock of it said in a registration record. Penguin CEO Jeffrey Hing owns a 55% stake in the company Emet Grace, while CEO James Tham owns 5%. Together, Mr. Hing and Mr. Tham own about 21.56% of Penguin’s total stake and have pledged to accept the offer.