SINGAPORE - Catalist-listed MS Holdings on Monday said a company fully owned by executive chairman Ng Chui Hwa made a voluntary unconditional cash offer to privatise the company at seven cents per share.

The offer price represents a 16.7 per cent premium over the counter's last trading price of six cents on Aug 26, the crane rental company said in a bourse filing.

It also represents a premium of about 25.2 per cent, 25.4 per cent and 24.6 per cent over the volume-weighted average price per share for the three-month, six-month and 12-month period respectively, up to and including Sept 30 - the last full market day prior to the offer announcement.

Offeror Kingswin Investment plans to exercise its right to compulsorily acquire all the offer shares not acquired under the offer if it receives valid acceptances in respect of not less than 90 per cent of the total number of issued shares.

The offer is an opportunity for shareholders who find it difficult to exit their investment in the company due to low trading liquidity, Kingswin noted.

MS Holding's share trading volume has been low, with an average trading volume of around 7,147 shares, 3,899 shares and 2,037 shares during the three-month period, six-month period and 12-month period respectively, up to and including the last trading day.

MS Holdings, better known as Moh Seng Cranes in the industry, is in the business of leasing mobile and lorry cranes, and trading cranes and related equipment. It called for a trading halt early on Monday and last traded at six cents on Aug 26. THE BUSINESS TIMES