Friday, November 2, 2012

Trunkbow Int. Going Private

Funny I had already two weeks an article on Trunkbow International (TBOW) for posting on Seeking Alpha, but I wasn't yet finished with polishing.

Today they announced that they are going private.

Trunkbow International Holdings Limited (TBOW) ("Trunkbow" or the "Company"), a leading provider of Mobile Payment Solutions ("MPS") and Mobile Value Added Services ("MVAS") in the PRC, today announced that its board of directors has received a preliminary non-binding proposal letter, dated November 2, 2012, from Hou Wanchun, Chairman of the board of directors of the Company, and Li Qiang, Chief Executive Officer and a director of the Company (together, the "Consortium Members"), that proposes a "going-private" transaction involving the acquisition of all of the outstanding shares of the Company's common stock (the "Shares") not beneficially owned by the Consortium Members at a price of US$1.46 per Share in cash (the "Acquisition").


1 comment: