Based on the company's share base of just over 387 million shares, the sale, if completed at this price, will net a gain of 15.3 cents per share.
Chasen's last traded share price was 4.7 cents, down 21.67% year to date, valuing the company at $17.1 million. As at Sept 30, its NTA per share was 16.8 cents.
"The Board wishes to emphasize that there is no certainty or assurance that any transaction will occur," the company says in a holding announcement on Dec 22.
Chasen, in the same announcement, has yet to provide details too on which are the subsidiaries that are part of the sale.
For the most recent half-year ended Sept, Chasen reported earnings of $442,000, down 8% y-o-y. Revenue in the same period was down 7% y-o-y to $75.1 million.
On Sept 22, the company held the ground-breaking of a new facility in Singapore, which will cost $78 million.
With a gross floor area of 390,000 sq ft, including clean room space of 65,000 sq ft, the facility will be a new base to support its customers including those in the semiconductor industry.
See also: Sembcorp CEO Wong receives lower pay after surprise dividend of 23 cents per share
More recently, on Nov 10, Chasen announced it won contracts worth $20.1 million in its 2QFY2024 ended Sept.
