Disclaimer: I am not an investment advisor. Heck, i am not even working in the financial industry. Below are my interpretation and i am grateful if you will let me know if anything i say is wrong and i will correct it in a reasonable time. I am not an expert and don’t wish to be assumed to be one. I make losses frequently.
The effort to divest Tuaspring started in January 2017. DBS and CICC Bank were appointed as advisors for the divestment exercise. By August 2017, more than 50 parties had indicated an interest in Tuaspring and had been provided access to the information memorandum concerning Tuaspring following written approval to disclosure being received from PUB. This information memorandum provided high level information on the asset. As a result of this exercise, the company received several preliminary non-binding bids, all of which were subject to agreement