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Otto Marine shares up on delisting offer

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Otto Marine shares up on delisting offer

PC Lee Published on Thu, Jun 09, 2016 / 11:36 AM GMT+8

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SINGAPORE (June 9): Otto Marine shares are up 37% to 31.5 cents after its founder offers to buy all the shares in the company he does not own to take the company private.

Yaw Chee Siew, chairman of the shipbuilder, currently owns a 61.2% controlling stake in the company.

Yaw is offering 32 cents per share in cash. The offer price represents a 39% premium to the company's last traded price and values Otto Marine at $68 million.

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