TAL United Makes SG$0.58 Per Share Offer for Sin Heng Heavy Machinery

MT Newswires

Mar 17

TAL United plans to make a voluntary unconditional cash offer of SG$0.58 per share for Sin Heng Heavy Machinery (SGX:BKA), according to a Friday filing on the Singapore Exchange.

The offer, made through Maybank Securities, values the company at SG$66.6 million, excluding treasury shares. TAL United said the offer price is final but may be revised if a competing bid emerges.

The offer will be adjusted for any dividends declared after the offer announcement date, including a proposed first and final one-tier tax-exempt dividend of SG$0.01 and a special one-tier tax-exempt dividend of SG$0.04 for the financial year ended Dec. 31, 2024.

TAL United has secured irrevocable undertakings from key shareholders representing about 58.42% of Sin Heng's outstanding shares, including 29.68% held by TAL Holdings and 28.46% held by United Hope.

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