The news comes after a June 3 announcement that Low and Tai were in discussions over a “possible transaction” involving the company’s shares.
Alpina Holdings’ controlling shareholders and founders, Low Siong Yong and Tai Yoon On are looking to take the company private with an offer of 37 cents per share. Low is the executive chairman and CEO while Tai is the executive director.
The offer is made by K&T Investment, a special purpose vehicle. (SPV) set up by Low and Tai to undertake the acquisition. Low holds a 55% stake in K&T Investment’s total share capital of $1,000 comprising 1,000 shares, while Tai holds the remaining 45%.
