ZICO Capital has been appointed as the independent financial advisor for Hanwha Group's offer for Dyna-Mac, according to a bourse filing on Sept 18.
On Sept 11, Hanwha made an offer of 60 cents for the shares it does not own in Dyna-Mac. The offer price represents a 21.2% premium to the Mainboard-listed company’s last-traded price of 49.5 cents on Sept 10.
The tender offer process is expected to be completed by end-2024.
Shares in Dyna-Mac closed flat at 63 cents on Sept 18.
See also:
- Hanwha Group makes tender offer of 60 cents per share for Dyna-Mac (update)
- Estate of Dyna-Mac’s founding shareholder does not find Hanwha’s cash offer compelling
- Hanwha Group explains rationale behind Dyna-Mac’s offer price
- Standoff as Hanwha keeps 60 cents offer price for Dyna-Mac in offer document
- Estate of Dyna-Mac’s founding shareholder issues follow-up statement after offer document
- Hanwha Group announces ‘final offer’ of 67 cents for Dyna-Mac (update)
- Dyna-Mac’s IFA deems offer to be ‘fair and reasonable’
- Estate of Dyna-Mac’s founding shareholder to accept Hanwha’s offer
- Hanwha Group's offer for Dyna-Mac turns unconditional with acceptances; offer to remain open till Nov 20
- CCCS clears proposed acquisition of Dyna-Mac by Hanwha Ocean
- Hanwha to exercise compulsory acquisition rights after stake in Dyna-Mac crosses 90%
