CEO Phua offers to privatise TEE International at 21.5 cents per share

SINGAPORE (April 2): Phua Chian Kin, group CEO and controlling shareholder of TEE International, is offering to buy out other shareholders for 21.5 cents a share, valuing the company at $108 million, announced the company on April Fool’s Day.

(See also: TEE International joins list of SGX-listed companies to be taken private)

The company’s share last traded at 19.1 cents before trading suspension was called pending this announcement. Back in October last year, NRA Capital analyst Liu Jinshu issued a report valuing the company at 34.5 cents.

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