Nam Tai Electronics issues cash offer with purpose to privatize its subsidiary

Nam Tai Electronics, Inc., a BVI company working in the sphere of electronics manufacturing and design services, announced some weeks ago that, along with its 74.88%-owned subsidiary Nam Tai Electronic & Electrical Products Limited, listed on a HK Stock Exchange, jointly announced the issuance of Nam Tai’s formal conditional cash offer to the independent shareholders of NTEEP, to purchase for US$0.19 per share the shares of NTEEP that are not already owned by Nam Tai.

Nam Tai’s cash offer follows its intent to privatize its subsidiary, and is conditional upon Nam Tai receiving acceptances and/or purchases totaling at least 90% of the NTEEP shares held by its independent shareholders. If successful, the total cash consideration to privatize NTEEP will amount to approximately US$43 million.

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