The offer is being made, amid uncertainties of market volatility caused by the pandemic, so that minority shareholders have an “clean cash exit opportunity” at a “significant premium” of what the shares are now trading at.
Yao Hsiao Tung, chairman of Hi-P International, and his wife Wong Huey Fang, are offering to take the company private with an offer of $2 per share.
The couple, who already hold 83.5% of the company, do not intend to revise the offer.
