Otto Marine takeover moves a step closer

Otto Marine takeover moves a step closer

Singapore offshore shipbuilder and vessel operator Otto Marine has announced that Singapore Exchange has no objection to the proposed delisting of the company’s shares from the SGX.

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

The takeover and delisting is still subject to the approval of shareholders.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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