, Singapore
417 views
Photo by Pixabay via Pexels.

UOB initiates offer to buy out Silverlake Axis shareholders

Shareholders can either receive $0.36 in cash or $0.30 and a new type of share.

United Overseas Bank (UOB), on behalf of E2I Pte. Ltd., announced its plan to make a voluntary, unconditional offer to acquire all issued and paid-up ordinary shares of IT firm Silverlake Axis Ltd.

In a bourse filing, UOB is offering two options to shareholders: either to receive S$0.36 in cash for each share they sell; or to receive $0.30 in cash and one new type of share.

The new share will not be traded on any stock exchange and will be bought back by E2I Pte. Ltd for $0.18 each in five years. 

The sale does not include the company’s treasury shares and those that E2I Pte. Ltd. already owns or has agreed to buy, UOB said.

The same offer will also be extended to shares that are owned or acquired by the shareholders.

Join Singapore Business Review community

Follow the link for more news on

Join Singapore Business Review community
A NOTE FROM SINGAPORE BUSINESS REVIEW

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Top News

September surge masks looming export slowdown to 6% in 2027
Maybank raised its 2026 forecast to 27% from 18% in the same report.Non-oil domestic exports (NODX) growth could slow to 6% in 2027 as supply chain pressures and higher financing costs weigh on shipment momentum, Maybank Research Pte Ltd said.
Economy