Singapore’s securities watchdog has asked a potential bidder referred by Portek International to confirm whether it intends to make an offer for the Singapore-listed port operator.
Last week, Singapore-listed Portek announced that it was in discussions with an unnamed potential bidder that had expressed interest to make an offer for all the shares in the company. But another firm, Philippines-listed International Container Terminal Services (ICTSI), is also launching a friendly takeover of Portek.
The Securities Industry Council (SIC) said that Portek shareholders should be given sufficient information, advice and time to enable them to reach an informed decision on the offer.