SINGAPORE - The executive chairman of Sinotel Technologies is offering 9.8 cents apiece for all the shares he does not already own.

The offer is twice that of the last traded price of the mainboard-listed company on March 9.

Chairman Jia Yue Ting is mounting the exit offer with his sister-in-law, Zhang Rong. Together, they will hold 39.25 per cent of Sinotel, including a 9.27 per cent stake that Mr Jia is buying from some existing shareholders.

Mr Jia intends to delist and privatise Sinotel.

In the offer document, it was stated that the offer represents a cash exit opportunity for shareholders to realise the value of their investments in Sinotel at a premium over the historical trading prices of the shares.

"The offeror also believes that the delisting and privatisation of the company will give the offeror and the management of the company more flexibility to manage the business of the company, optimise the use of its management and capital resources and facilitate the implementation of any operational change."