Appleby advises TSIT Wing International on mandatory cash offer
Appleby acted as Bermuda counsel to SGX-ST main board listed Tsit Wing International on a mandatory cash offer by Hero Valour Limited worth an approximate total of S$65.48m (£32.41m).
The offer was made by DBS Bank Ltd on behalf of Hero Valour, a BVI special purpose vehicle wholly owned by Tsit Wing’s chairman and chief executive officer, Peter Wong, to acquire the entire share capital of Tsit Wing, other than shares owned, controlled or agreed to be acquired by Hero Valour, at a price of S$0.3075 per share, with an aggregate worth of approximately S$65.48m (£32.63m).
The Appleby team in Hong Kong was led by John Melia, a corporate and commercial partner, assisted by associate, Vincent Chan. Harry Elias Partnership LLP acted as Singapore counsel to Tsit Wing, and Stamford Law Office acted as Singapore counsel to Hero Valour.
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