Nam Tai Electronics' acting chairman Koo Ming-kown yesterday defended his company's bid to privatise its Hong Kong-listed subsidiaries - Nam Tai Electronic & Electrical Products (NTEEP) and JIC Technology - saying that the plan was fair to investors. Nam Tai announced its plan last Friday, saying that it would spend $454.8 million to privatise NTEEP and $119.2 million for JIC, in which it owns stakes of 69.5 per cent and 71.6 per cent, respectively. The privatisation price for NTEEP is $1.80 per share, a 47.5 per cent premium on its closing price of $1.22 before suspension. JIC is being privatised at 55 cents per share, a premium of 35.8 per cent on the stock's close of 40.5 cents on October 18. The deal has been criticised by investors, who say NTEEP, which listed in April on an offer price of $3.88, has slid 56 per cent because Nam Tai has continuously offloaded its shares to investment funds, putting its price under pressure. Mr Koo said the privatisations did not mean that investors would not have the chance to see a possible further upside of the stocks. 'If they think the companies have the potential for further growth, they can simply vote down the privatisation plan,' he said. The plan will fail if more than 10 per cent of independent investors vote against the offer. 'The share prices of NTEEP and JIC have been unreasonably low since they listed. A privatisation scheme can help to boost the share price immediately,' Mr Koo said. He declined to say whether he thought the deal would go ahead.