<article>The executive chairman of Singapore-listed <a href="http://plben4.wix.com/sinotel-technologies#!form/cc7a" target="_blank">Sinotel Technologies</a> has offered to buyout the loss-making company and take it private.</article>

The executive chairman of Singapore-listed <a href="http://plben4.wix.com/sinotel-technologies#!form/cc7a" target="_blank">Sinotel Technologies</a> has offered to buyout the loss-making company and take it private.
Sinotel’s executive chairman Jia Yue Ting made this offer through his special purpose vehicle – Advance Technology Holding. The latter will offer 9.8 cents for every share of Sinotel that Jia Yue Ting does not currently hold, which is a 100 per cent premium over the closing price of 4.9 cents (as on March 9).
The offer price values Sinotel at around $$41.4 million. Currently, Advance Technology has a 39.25 per cent equity interest in Sinotel.
Jia Yue Tin, acting in concert with his sister-in-law Zhang Rong, had recently purchased some 39.2 million shares, equivalent to or 9.27 per cent of Sinotel, from other shareholders. It was this transaction that led to Advance’s stake in Sinotel climbing to 39.25 per cent.
&#8220;As the company and its subsidiaries have been loss-making for the past three years, the offeror intends to take steps to consider a suitable rationalisation plan with a view to streamline the businesses and operations of the group, including cost-saving measures, should the offeror be successful in delisting and privatising the company&#8221; :Advance Holding said in a statement.
“Based on the historical trading patterns, the trading liquidity of the shares on the SGX-ST has generally been thin in the past. In view of the low trading liquidity, the offer therefore represents a cash exit opportunity for shareholders to realise the value of their investments in the company at a premium over the historical trading prices of the shares on the SGX-ST, an option which may not otherwise be readily available” : the company added.
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Image: <a href="http://www.freedigitalphotos.net/" target="_blank">freedigitalphotos.net</a> (by adamr)

The executive chairman of Singapore-listed Sinotel Technologies has offered to buyout the loss-making company and take it private.

Executive chairman offers to buyout Sinotel, take it private

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