Chuang family makes cash offer to delist SGX-listed Memtech

Chuang family makes cash offer to delist SGX-listed Memtech

Singapore Exchange REUTERS/Edgar Su

Singapore-listed electronic components maker Memtech International on Wednesday announced that it has received a voluntary conditional offer from the Chuang family, which owns the firm, of S$1.35 in cash for each share. The offer values the firm at S$189 million ($138 million).

The offer was made through M-Universe Investments Pte Ltd, a special purpose vehicle backed by the Chuang family; Keytech Investment, an investment entity owned 49.39 per cent by the Chuangs; and Universal Global Tech (UGT), which is owned by Shanghai Stock Exchange-listed Universal Scientific Industrial (USI).

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