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.