Texchem-Pack delisting hits snag, financial terms not reasonable

  • Business
  • Wednesday, 02 Jun 2010

PETALING JAYA: Texchem Resources Bhd’s bid to take private Texchem-Pack Holdings (S) Ltd has hit a snag after the Singapore Exchange Securities Trading Ltd said it was unable to review and clear the draft circular as the financial terms of the exit offer were not reasonable.

Texchem Resources currently holds about 70.48% of Texchem-Pack, which is listed on the Singapore stock exchange.

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