Dyna-Mac shareholders may have dodged a bullet as company delists
WHEN South Korean conglomerate Hanwha first launched its cash offer for shares in offshore oil-and-gas contractor Dyna-Mac in September 2024, it purportedly had no plans to take the Singapore-listed company private.
To be precise, offeror Hanwha Ocean SG said then that it “does not have any present intention to actively pursue the delisting” of Dyna-Mac from the mainboard of the Singapore Exchange.
However, Hanwha also made it clear that, should trading in Dyna-Mac shares be suspended if it loses its free float – with less than 10 per cent of its shares in public hands by the end of the offer – the offeror would not undertake or support any action for the trading suspension to be lifted.
Copyright SPH Media. All rights reserved.
Originally published by businesstimes.com.sg. Syndicated material does not necessarily reflect the views of Vanity Fair Fashion.
