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Market UpdatesSingapore SGX stocks

Hanwha Group Maintains SGD 0.60 Offer for Dyna-Mac Amid Uncertainty

Posted on October 3, 2024 at 2:27 pm (GMT+8)

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Report Date and Broker

  • Date: 3 October 2024
  • Broker: Maybank Research Pte Ltd

Offer Announcement
Dyna-Mac has received an offer from Hanwha Group to acquire shares at SGD 0.60 per share. This offer was detailed in an offer document dated 2 October 2024.

Offer Terms and Current Status
Hanwha Group has maintained the offer price of SGD 0.60 but has not indicated whether this is the final offer. As of 2 October 2024, no third-party offer has been made for Dyna-Mac.

Irrevocable Undertakings
Hanwha currently holds irrevocable undertakings for 24.31% of Dyna-Mac’s shares. Hanwha aims to increase its ownership to at least 50%, leaving 25.69% of the company’s shares needed to reach this threshold. If the offer does not meet this requirement, shareholders who have accepted the offer will have their shares returned.

Listing Status
Hanwha Group has expressed its intention to keep Dyna-Mac listed on the stock exchange, despite the offer to acquire shares.

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