AsiaOffshore

Otto Marine takeover complete, to delist from SGX next week

RHB Securities Singapore has announced that it has, for and on behalf of Ocean International Capital, received valid acceptance for the exit offer to acquire all the issued ordinary shares of Otto Marine in connection with the voluntary delisting of Otto Marine from the Singapore Exchange.

Otto Marine announced a plan in June to delist from the exchange after receiving a takeover offer from Ocean International Capital, owned by Datuk Seri Yaw Chee Siew, Otto’s executive chairman and controlling shareholder.

RHB Securities Singapore said the delisting proposal conditions have been fulfilled and the exit offer has become and is declared unconditional in all respects.

Otto Marine will officially delist from Singapore Exchange Securities Trading upon completion of the deal before September 30.

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Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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