The board of directors of the offeror comprises Loo and Tan Keng Soon (Keith), identified as the founding and managing partner of Dymon Asia Private Equity (Singapore).

Challenger's shares last traded at 55 cents on May 29, before trading was halted ahead of the offer announcement. Trading resumed on May 31.

As at June 6, persons acting or deemed to be acting in concert with the offeror collectively owned or controlled an aggregate of 260,178,374 shares, or 64.76% of the total number of shares. Apart from Loo, these shareholders include his spouse, Ong Sock Hwee; his daughter, Loo Pei Fen; his son, Loo Wei Kiat; and Digileap.

The highest closing price of the shares in the five-year period, prior to and including May 29, was 61 cents.

<span class='see_also_inread'><b>See also: <a class='gtm_see_also_1_inread' style='text-decoration: underline;' href='https://www.theedgesingapore.com/news/company-news/challengers-chairman-loo-teams-dymon-another-56-cents-privatisation-bid?utm_source=website&utm_medium=article&utm_campaign=ONPAGESEO'>Challenger's chairman Loo teams up with Dymon for another 56 cents privatisation bid</a></b></span>

Out of the 928 market days when the shares were traded, the closing prices of the shares had not exceeded the final offer consideration on 920 market days.

Loo and Dymon made an offer back in 2019 at 56 cents, which was rejected by minority shareholders at an EGM. Currently, Dymon Asia already holds an indirect stake of 17.44% in Challenger. Loo and his family collectively hold another 47.32%.

Shares in Challenger closed flat at 58 cents on June 6.

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