Ellipsiz, the provider of semiconductor services and products, has received a takeover offer from the Lum family that controls construction firm Lum Chang Holdings.
Lum Chang managing director David Lum Kok Seng and his two sons, Kelvin Lum Wen-Sum and Adrian Lum Wen Hong, are offering 38 cents for each share of it does not already own, it said in a Singapore Exchange filing released on Thursday evening.
Ellipsiz had closed 1 cent higher at 37 cents earlier.
According to Ellipsiz’s 167 million issued share capital, the offer price values the company at about $63.5 million.
Lum and his sons are launching the mandatory cash offer through their takeover vehicle Bevrian which held 29.35% of Ellipsiz before the offer.
The takeover offer was triggered after Bevrian acquired about 7.93 million shares at 38 cents each that resulted in them controlling about 34.10% of Ellipsiz.
Bevrian says it has currently no plans for any major changes for Ellipsiz and expects the company to continue with its existing business activities and maintain its listing status.
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Lum Chang managing director David Lum Kok Seng and his two sons, Kelvin Lum Wen-Sum and Adrian Lum Wen Hong, are offering 38 cents for each share of it does not already own, it said in a Singapore Exchange filing released on Thursday evening.
Ellipsiz had closed 1 cent higher at 37 cents earlier.
According to Ellipsiz’s 167 million issued share capital, the offer price values the company at about $63.5 million.
Lum and his sons are launching the mandatory cash offer through their takeover vehicle Bevrian which held 29.35% of Ellipsiz before the offer.
The takeover offer was triggered after Bevrian acquired about 7.93 million shares at 38 cents each that resulted in them controlling about 34.10% of Ellipsiz.
Bevrian says it has currently no plans for any major changes for Ellipsiz and expects the company to continue with its existing business activities and maintain its listing status.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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