Nam Tai changes plan after new buyout bid

PUBLISHED : Wednesday, 20 May, 2009, 12:00am
UPDATED : Wednesday, 20 May, 2009, 12:00am

Nam Tai Electronic & Electrical Products has scrapped its voluntary winding-up plan as its parent firm launches a new privatisation bid. It says its controlling shareholder will offer HK$1.52 per share, against the failed bid of HK$1.50 last month. The Securities and Futures Commission has reprimanded non-executive chairman Koo Ming-kown (above) and banned him from the securities market for two years for breaching the takeovers code. Mr Koo apologised for the inconvenience caused.