Investors holding Hyflux’s perpetual and preference (PnP) shares gathered at a town hall meeting organised by white knight Utico on the evening of Jan 20. The Hyflux PnP holders are considering if they will vote against the current Utico deal. At the meeting, Hyflux’s PnP holders said Utico’s offer is uneven and it favours smaller holders, while putting those who hold a larger stake at a disadvantage. Hyflux owes $900 million to about 34,000 retail investors.
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