Spindex shares, typically thinly-traded, last traded at $1.34 on Sept 26 with just 100 shares changing hands.
The board of directors of Spindex Industries has announced the Evolve Capital Advisory has been appointed the independent financial advisor for the privatisation of the company.
On Sept 26, investors in concert with Spindex's own chairman Tan Choo Pie and his son, managing director Tan Heok Ting, offered $1.43 per share in cash to other shareholders, valuing the company at around $165 million.
