The offer price exceeds the highest ever closing price since listing and represents a premium of 42.5% over 12-month volume-weighted average price (VWAP).
The independent directors of Teckwah Industrial Corporation has recommended that its shareholders accept its privatisation offer of 65 cents, unless they are able to obtain a better price on the open market.
The statement, released on September 16, comes after IFA – RHT Capital has considered the offer to be “fair and reasonable” after its assessment.
