In today’s briefing:
- Penguin International (PBS SP): Dymon Asia & Co Return with an S$0.82 Unconditional Offer
- Advance Intelligence Group Raises US$80M to Further Develop AI Innovations
Penguin International (PBS SP): Dymon Asia & Co Return with an S$0.82 Unconditional Offer
- Penguin International (PBS SP) has disclosed a voluntary unconditional offer from Dymon Asia, Executive Chairman and Managing Director at S$0.82 per share, a 15.5% premium to the undisturbed price.
- The offer price is attractive, represents an 8-year share price high, and is shy of the 10-year high of S$0.825. It is also 26.2% higher than the 2021 offer.
- The offeror aims to privatise Penguin. Hitting the 90% compulsory acquisition threshold implies a minority acceptance rate of around 44%, which is eminently achievable due to an attractive offer.
Advance Intelligence Group Raises US$80M to Further Develop AI Innovations
- Singapore-based AI company Advance Intelligence Group today announced it has raised US$80 million from an investor consortium
- The fundraising follows its previous Series D funding round of over US$400 million in 2021.
- In total, the company has raised over US$700 million and has secured capital in excess of US$1 billion supporting its credit book.
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