Frencken acquires Penchem Technologies for $5.2 mil

Samantha Chiew
Samantha Chiew1/27/2022 06:33 PM GMT+08  • 2 min read
Frencken acquires Penchem Technologies for $5.2 mil
Frencken Group acquires Penchem Technologies for $5.2 mil.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

Frencken Group is acquiring Penchem Technologies, a high tech company focused on the designing, developing, formulating and manufacturing of polymer materials that are primarily aimed at applications and solutions for the electrical and electronics industry and also in markets such as coatings, adhesives, as well as fillers for industries such as automotive, marine and aerospace.

In conjunction with this deal, Frencken will be purchasing 261,500 ordinary shares in the company from two individuals - Wong Kah Gin and Ng Chee Mang - representing a 50% stake in Penchem. The group has also simultaneously entered into a subscription agreement with Penchem to subscribe for 10,058 ordinary shares amounting to 1.92% of the ordinary shares of Penchem.

The consideration payable for this transaction is RM15.6 million ($5.2 million), which the group will satisfy wholly in cash.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now