Losing another 10% yielder in Adampak
Adampak Limited’s shareholders were on Monday offered 42 Singapore cents for each of the shares they hold in the Singapore-listed manufacturer of high performance labels, seals and other precision die-cut components. Private equity firm Navis Capital Partners, through Safe Label Group Pte Ltd, intends to make Adampak a privatised wholly-owned subsidiary. ‘The privatisation of Adampak will allow it to save on additional expenses relating to the maintenance of its listing status and focus its resources and capital on business operations,’ it said. The offer price represents approximately a 22 per cent premium over Adampak’s last traded price of 34.5 cents apiece.