PrimePartners Corporate Finance

Delong CEO and wife make $7/share cash offer to take steel manufacturer private

SINGAPORE (Sept 27): Delong Holdings’ CEO and executive chairman Ding Liguo and his wife have made a $7 per share cash offer to take the China-based steel manufacturer private.

The offer price represents a 76.9% premium over Delong's 12-month volume-weighted average price, and a 1.9% premium over its last transacted price of $6.87 at the close on Wednesday.

The voluntary condition offer for all the shares the couple do not own was made by PrimePartners Corporate Finance on behalf of the couple's offer vehicle Best Grace Holdings.

Is offer for Wheelock Properties fair and reasonable?

SINGAPORE (Aug 31): PrimePartners Corporate Finance, the independent financial adviser (IFA) to the recommending directors of Wheelock Properties (Singapore), said it was rewording a paragraph in its IFA letter "to address any perception of an inconsistency between our opinion and our recommendation to the recommending directors in relation to the offer".

Wheelock's $2.10 offer 'fair and reasonable but not compelling', says IFA

SINGAPORE (Aug 24): The $2.10 offer for Wheelock Properties (Singapore) by its controlling shareholder is “fair and reasonable, but not compelling, and are not prejudicial to the interests of minority shareholders”, says the Independent Financial Adviser (IFA).

See: Controlling shareholder of Wheelock Properties launches $2.10 per share offer

Coffeeshop operator Kimly launches IPO; to sell 173.8 million new shares at 25 cents each

SINGAPORE (March 8): Kimly Group, one of the largest traditional coffeeshop operators in Singapore, is tapping capital markets to raise funds to grow its business operations.

In conjunction with its Catalist listing, Kimly is selling 173.8 million new shares at 25 cents each. These consist of 3.8 million shares for public subscription and 170 million placement shares. Together they represent 15.1% of Kimly’s enlarged share capital of some 1.2 billion shares.

Did a stop-work order trigger the sharp fall in CNMC Goldmine?

SINGAPORE (July 22): Shares in CNMC Goldmine Holdings plunged nearly 12% on Friday after the group made an after-market announcement on Thursday that it had received a temporary stop-work order from a Kelantan government agency.

In the past month, shares in CNMC Goldmine have been climbing steadily. On July 17, the stock peaked at 61 cents in tandem with a rally in gold prices driven by concerns over the impact of the UK’s withdrawal  from the European Union on the global economy.

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