Penguin International’s senior management and private equity backer hope it proves second time lucky in their attempt to take the Singapore-listed shipyard group private.
Executive chairman Jeffrey Hing and private equity outfit Dymon Asia have offered shareholders SGD 0.82 (61 US cents) per share in an offer set to close this evening (Thursday) at 5pm Singapore time.
This is the second attempt to take the builder of fast ferries and offshore wind industry vessels private in less than three years.
