Latest news with #GrandVenture
Business Times
11-07-2025
- Business
- Business Times
Stocks to watch: Singtel, Sinarmas Land, Cordlife, Q&M Dental Group, Grand Venture Tech, PSC, Procurri Corp
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Friday (Jul 11): Singtel : The local telecommunications giant's technology services arm, NCS, will invest S$130 million over the next three years to further its artificial intelligence (AI) development across the Asia-Pacific region. Its investments include the development of an AI suite, six major technological partnerships and developing an AI-enabled workforce. NCS currently has over 1,000 professionals certified across major cloud platforms including AWS, Google, Microsoft and Nvidia. Shares in Singtel closed 1.3 per cent or S$0.05 higher at S$4.01 on Thursday, before the news. Sinarmas Land: The property developer said on Friday that the offeror aiming to privatise it has exercised its right to compulsorily acquire all shares of shareholders who have not accepted the offer. Following this, the Widjaja family-controlled Lyon Investments will own all Sinarmas Land shares and will delist the company from the mainboard of the Singapore Exchange at a date and time to be announced. The counter has been suspended from trading since Jun 3, 2025, after the privatisation offer closed with Lyon Investments' shareholding standing at a 98.65 per cent. Cordlife : The private cord-blood bank said in bourse filing on Thursday that it will offer enhanced support to its customers who were affected by the November 2023 discovery of its damaged storage tanks. This includes a five-year extension to their cord-blood storage – until their children turn 26 years old – at no additional cost. The extension begins when the customer's existing contract expires. Its shares closed at S$0.005 or 1.9 per cent lower at S$0.26, before the announcement. Q&M Dental Group : The company on Thursday issued S$130 million worth of notes priced at 3.95 per cent under its S$500 million multicurrency debt issuance programme. The group said it has received in-principle approval from the Singapore Exchange Securities Trading for the listing and quotation of the notes, which are due in 2028 and will list on the bourse on Friday. The counter ended on Thursday unchanged at S$0.43. Grand Venture Technology: The precision engineering solutions company is moving to be privatised by Aalberts Advanced Mechatronics at S$0.94 a share, it said on Thursday. The Netherlands-incorporated firm is proposing to acquire all ordinary shares in Grand Venture's issued and paid-up share capital, which totals some 339.3 million shares worth S$318.9 million. Shareholders who collectively hold 64.24 per cent of Grand Venture's total shares have given the offeror irrevocable undertakings to vote in favour of the scheme. Shares of Grand Venture closed on Wednesday at S$0.955, up by 1.1 per cent or S$0.01, before the company called for a trading halt on Thursday morning. PSC Corporation : A mandatory offer by local tycoon Sam Goi has been made on Thursday to buy the remaining shares that he does not already own of fast-moving consumer goods wholesaler PSC at S$0.40 apiece. This comes after he spent S$25.2 million on 63 million shares to raise his stake to 43.38 per cent. The offer represents a premium of 7.8 per cent over the volume weighted average price of S$0.371 in the past one-month period, according to a bourse filing by UOB Kay Hian on his behalf. The counter fell S$0.01, or 2.4 per cent, to close at S$0.40, before the announcement. Procurri Corp : The IT solutions provider on Thursday said it received in-principle approval from the Singapore Exchange for its proposed delisting. This comes as its parent company Exeo Global Asset Holdings on Apr 28 proposed to acquire all shares in its issued share capital at S$0.32 apiece. The counter finished on Thursday flat at S$0.31.
Business Times
10-07-2025
- Business
- Business Times
Dutch firm moves to privatise Grand Venture Technology at S$0.94 per share
[SINGAPORE] A Netherlands-incorporated firm is looking to privatise precision engineering solutions company Grand Venture Technology at S$0.94 a share, both companies said on Thursday (Jul 10). The offeror is proposing to acquire all ordinary shares in Grand Venture's issued and paid-up share capital, which totals some 339.3 million shares worth S$318.9 million. Shareholders who collectively hold 64.24 per cent of Grand Venture's total shares have given the offeror irrevocable undertakings to vote in favour of the scheme, the companies said in a joint statement. They include the company's executive deputy chairman who owns a 15.37 per cent stake, the chief executive officer and chief operating officer who each have a 3.55 per cent stake, and NT SPV 12, the subsidiary of a private equity fund, which has a 26.68 per cent stake. The offeror, Aalberts Advanced Mechatronics, is an indirect wholly owned subsidiary of Aalberts, which is listed on Euronext Amsterdam. The unit is part of the group's semiconductor business segment. It intends to privatise and delist Grand Venture from the Singapore Exchange should the scheme succeed, as this will allow for greater control and flexibility in managing the company and optimising resources. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up To be passed, the scheme requires approvals representing at least 75 per cent of the value of shares held by shareholders present and voting, in person or by proxy, at the scheme meeting. Scheme consideration The offer is an opportunity for shareholders to realise their investments at a premium over market prices, both companies noted. This is as the scheme consideration represents a premium of 11.9 per cent over Grand Venture's share price of S$0.84 on the company's last undisturbed trading day on May 30, 2025 – before it announced on Jun 1 that it had entered confidential discussions relating to a possible transaction involving its shares. It is a premium of 17.4 per cent, 25.5 per cent, 20.7 per cent, and 27.9 per cent over the volume-weighted average price (VWAP) per share for the one, three, six and 12-month periods, respectively, as well as a premium of 37.7 per cent and 42 per cent over the VWAP per share for the two and three-year periods, respectively, up to and including May 30. It is also 241.8 per cent above Grand Venture's initial public offering price of S$0.275 on Jan 23, 2019, and 140.1 per cent over the audited net asset value per share of S$0.3915 as at Dec 31, 2024. The companies said that, as the trading volume of Grand Venture's shares has been 'relatively low' such that shareholders may not have 'sufficient opportunity to efficiently exit their investments', the scheme provides them the option to realise their investments without incurring brokerage or other trading costs. The offer is also a 'strategic opportunity' for the offeror to enter the South-east Asia semiconductor market by leveraging Grand Venture's production capabilities, they added. 'This acquisition would provide an opportunity for the company and offeror to capitalise on each other's complementary semiconductor engineering capabilities and technologies, domain knowledge and supply chains, potentially leading to productivity improvements and certain cost-efficiencies,' they said. The offeror views Grand Venture as a potential growth platform as the complementary supply chain networks of both companies could allow their customers to benefit from a 'more comprehensive suite of solutions', the companies noted. 'Access to each other's existing and new customers... could offer incremental market access and consolidation of selected business development efforts which may result in improved market penetration.' Shares of Grand Venture closed on Wednesday at S$0.955, up by 1.1 per cent or S$0.01, before the company called for a trading halt on Thursday morning.
Business Times
10-07-2025
- Business
- Business Times
Dutch firm moves to privatise Grand Venture Technology at S$0.94 apiece
[SINGAPORE] A Dutch firm is looking to take Grand Venture Technology private by way of scheme of arrangement, said the precision engineering solutons company in a joint announcement with the offeror on Thursday (Jul 10). The offeror is proposing to acquire all issued and paid-up ordinary shares in the company's share capital, comprising some 339.3 million shares worth S$87.3 million, at S$0.94 apiece. Shareholders who collectively hold around 64.2 per cent of the company's total shares have given irrevocable undertakings to the offeror, the companies said. They added that the scheme consideration represents a premium of 11.9 per cent over the latest traded price of shares of S$0.84 on the company's last undisturbed trading day on May 30, 2025. This was before the company announced on Jun 1, 2025, that it had entered confidential discussions relating to a possible transaction involving its shares. As the trading volume of Grand Venture's shares have been relatively low, the scheme provides shareholders the option to realise their investment for cash without incurring any brokerage or other trading costs, the two companies said. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up The offer is also a strategic opportunity for the offeror to enter the South-east Asia semiconductor market by leveraging Grand Venture's production capabilities, the two companies said. The offeror, Aalberts Advanced Mechatronics, is incorporated in the Netherlands and is an indirect wholly owned subsidiary of the Aalberts group, which is listed on Euronext Amsterdam. Aalberts Advanced Mechatronics intends to delist Grand Venture from the Singapore Exchange once the scheme is completed. For the scheme to be passed, it requires approval from shareholders who represent at least 75 per cent of the value of the shares held by shareholders present and voting, either in person or by proxy, at the scheme meeting. Shares of Grand Venture closed on Wednesday at S$0.955, up by 1.1 per cent or S$0.01, before the company called for a trading halt on Thursday morning.
