Spindex shares, typically thinly-traded, last traded at $1.34 on Sept 26 with just 100 shares changing hands. Nonetheless, Spindex shares have gained more than 41% year to date.
Local small and mid caps are starting to get their day in the sun but privatisations are still taking place. Following what some market observers have described as a "fast and furious" pace of delistings over the last few years, manufacturer Spindex Industries has become the latest to be potentially taken out of the equities market.
On Sept 26, investors in concert with Spindex's own chairman Tan Choo Pie and his son, managing director Tan Heok Ting, are offering $1.43 per share in cash to other shareholders, valuing the company at around $165 million.
