The founder and CEO of NYSE-listed TDCX Inc. Laurent Junique has made a non-binding proposal to take the company private.
On Jan 3, TDCX announced that Junique had offered US$6.60 in cash per ordinary share in the Singapore-based company he does not already own, a nearly 37% premium to its closing price of US$4.83 on Jan 2.
Junique beneficially owns some 86.1% of the company's shares and holds approximately 98.4% of the company's aggregate voting power.
The company's shares were priced at US$18 for its initial public offering (IPO) on the NYSE in Oct 2021.
TDCX says that it has formed a special committee of independent and disinterested board directors to consider the proposed transaction, with independent legal and financial advisers expected to assist in the review.
Shares in TDCX were around 26% higher than their previous closing price, at US$6.09 in premarket trading on the NYSE as at 7.42pm SGT.
