Otto Marine's chairman rolls out $68m privatisation bid

He's offering 32 cents per share.

Malaysian tycoon Yaw Chee Siew has launched a delisting offer for the mainboard-listed offshore marine group.

In a filing to the Singapore Exchange, Otto Marine said that it has received a buyout offer from Ocean International Group, which is wholly-controlled by Yaw. Ocean International is offering $0.32 cents per share, representing a premium of 39.13 cent over its last traded price of 23 cents.

The potential buyer said that it does not intend to revise the exit offer.

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!