Hanwha to release rationale of Dyna-Mac offer on 2 October
It made a tender offer of $0.60 per unit.
Hanwha Group, a substantial shareholder of Dyna-Mac Holdings, said its tender offer for the latter is "based on a rigorous review of factors affecting" the latter's business outlook.
Hanwha made a tender offer of $0.60 per unit for shares it doesn't own yet in the Mainboard-listed company.
Hanwha added that its offer represents a 21% premium over Dyna-Mac's undisturbed last transacted price per share on 10 September 2024.
The offer price is also 5.7 times higher than the company's diluted net asset value per share (price-to-book ratio) and 13.2 times more than its diluted earnings per share (price-to-earnings ratio) for the 12 months ended 30 June 2024.
Hanwha said it will set out its rationale and intention related to the offer in great detail in the office documents, which it plans to despatch no later than 2 October.
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