NeraTel receives a $0.075 per share offer from Ennoconn

Ennoconn wants to acquire a 53.38% stake in the company.

Mainboard-listed Nera Telecommunications has received a mandatory unconditional cash offer of $0.075 per share for 53.38% of its stake from Ennoconn Corporation.

Ennoconn Corporation will maintain the listing status of Nera Telecommunications on SGX-ST following the offer.

The Taiwan-based company also "does not intend to exercise any rights of compulsory acquisition."

In a bourse filing, Nera Telecommunications said the shares to be acquired will be held by the wholly-owned subsidiary of Ennoconn Corporation, Ennoconn Solutions Singapore (ESS).

Nera will dispatch the offer document to its shareholders not earlier than 14 days and not later than 21 days from 4 September, the offer announcement date.