Hwa Hong's Conditional Offer Amid Family Tussle

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338 Views, 17 May 2022 20:10

EXECUTIVE SUMMARY

Ong Choo Eng and his son Ong Eng Yaw, together with Roswell Assets, Dymon Asia Private Equity, and Crytalic Star have launched a voluntary Offer for Hwa Hong (HWAH SP).
The S$0.37/share Offer is a nine-year high and a 27.6% premium to last close. It has not been declared final.
However, it appears not all of the founding members of the company are on the same page. The family fissure became public after the last independent director resigned this month.

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