Wee's wife, Tan Geok Bee, controls 9.65% in Fabchem through Fivestar Limited. On Friday, Wee acquired a 29.9% stake in the group from DNX Australia at 15.8 cents per share, which works out to be $2.2 million in total.
SINGAPORE (Mar 17): Fabchem China, the manufacturer of initiation systems and and detonating cords for explosives, has received a conditional cash offer by shareholder Henry Wee and his wife at 15.8 cents each.
The mandatory general offer was triggered after the couple raised their combined stake to 39.55%. The offer is conditional upon the Wees having received, by the close of the offer, valid acceptances for them to control more than 50% of Fabchem China.
