Lin Tah Hwa gains 8.44% stake in Allied Technologies with S$7.1m married deal

On the stock market on Nov 29, Allied traded flat at S$0.068 at 1.26pm, with 6.8 million shares changing hands.
On the stock market on Nov 29, Allied traded flat at S$0.068 at 1.26pm, with 6.8 million shares changing hands.PHOTO: ST FILE

SINGAPORE - Allied Technologies disclosed through a filing with the Singapore Exchange on Wednesday (Nov 29) that one Lin Tah Hwa had on Nov 28 accumulated an 8.44 per cent stake in the manufacturer of precision stamped metal parts, by buying up 114 million shares for S$7.068 million.

This translates to a unit price of S$0.062 per share.

This was done through a married deal, which is an off-the-market share transaction between two parties on an agreed price.

The buyer had no prior stake in the company. Following the acquisition, the buyer is now considered a substantial shareholder.

On the stock market on Wednesday, Allied traded flat at S$0.068 at 1.26pm, with 6.8 million shares changing hands.