Kingboard to take Elec & Eltek private

Kingboard Holdings (148) plans to privatize Elec & Eltek (1151) at a premium of 70.47 percent.

The offer price is HK$18.07 per share in cash, equivalent to about HK$891 million.

After the privatization, Elec & Eltek will delist from the main board and Singapore Exchange. Kingboard said the share price and transaction volume of Elec & Eltek both are unfavorable.