Jeffrey Hing Yih Peir, James Tham Tuck Choong, Dymon Asia Private Equity (S.E. Asia) Fund II, L.P. managed by Dymon Asia Capital Pte. Ltd. made a bid to acquire 19.95% stake in Penguin International Limited for approximately SGD 36 million.
May 03, 2023
Share
Jeffrey Hing Yih Peir, James Tham Tuck Choong, Dymon Asia Private Equity (S.E. Asia) Fund II, L.P. managed by Dymon Asia Capital (Singapore) Pte. Ltd. made a bid to acquire 19.95% stake in Penguin International Limited (SGX:BTM) for SGD 36.5 million on May 4, 2023. Under the terms, offer per share is SGD 0.820 and the outstanding shares of Penguin International Limited are 220.17 million. As of May 15, 2023, offer per share has been changed to SGD 0.830 per share in cash. Jeffrey Hing Yih Peir is the Executive Chairman and James Tham Tuck Choong is the Managing Director of Penguin International. Offeror will be entitled to exercise the right to compulsorily acquire all the Shares from Shareholders who have not accepted the Offer at a price equal to the Offer Price. The Offer is not subject to any conditions and is unconditional in all respects. As of May 5, 2023, Offeror acquired 0.053 million shares through Singapore Exchange Securities Trading Limited (SGX-ST). As of May 8, 2023, Offeror acquired 0.073 million shares through SGX-ST. As of May 16, 2023, Offeror acquired approximately 2.94 million shares accounting for 1.34% of the entire outstanding shares through SGX-ST. As of May 17, 2023, Offeror acquired approximately 0.153 million shares accounting for 0.07% of the entire outstanding shares through SGX-ST. As of May 22, 2023, Offeror acquired approximately 0.0001 million shares through SGX-ST. As of May 23, 2023, Offeror acquired approximately 0.0033 million shares through SGX-ST. As of May 24, 2023, Offeror acquired approximately 0.016 million shares through SGX-ST. As of May 25, 2023, Offeror acquired approximately 0.0005 million shares through SGX-ST. The offer is expected to close on June 22, 2023. As of May 26, 2023, Offeror acquired approximately 0.012 million shares through SGX-ST. As of May 29, 2023, save for the acquisition by the Offeror on the SGX-ST of an aggregate of 3.34 million Shares, representing approximately 1.52%. As of May 31, 2023, Offeror acquired approximately 0.049 million shares through SGX-ST. As of June 15, 2023, Offeror acquired approximately 0.0066 million shares through SGX-ST.
W Capital Markets Pte Ltd acted as financial advisor Dymon Asia Capital (Singapore) Pte. Ltd. and offers.
Penguin International Limited is a Singapore-based company, which owns and operates passenger ferries. It designs, operates, and builds search-and-rescue vessels. The Company operates a fleet of crew boats and passenger ferries, as well as shipyards in Singapore and Batam, Indonesia. Its segments include chartering segment, which provides chartering of motor launches, and shipbuilding and ship repairs and maintenance segment, which acts as a builder of high-speed aluminum commercial vessels and contractor for ship repairs and maintenance services. It undertakes a variety of build-for-stock and build-to-order projects, including firefighting search-and-rescue vessels, patrol boats, security vessels, offshore crew boats, windfarm crew transfer vessels and passenger ferries. Its crew boats support offshore oil and gas activities and maritime security services. Its crew boats include Pelican Blessing, Pelican Conquest, Pelican Champion, Pelican Bright, and Pelican Best.
Jeffrey Hing Yih Peir, James Tham Tuck Choong, Dymon Asia Private Equity (S.E. Asia) Fund II, L.P. managed by Dymon Asia Capital Pte. Ltd. made a bid to acquire 19.95% stake in Penguin International Limited for approximately SGD 36 million.
PENGUIN INTERNATIONAL LIMITED 
