Trunkbow International Holdings Limited has completed a going-private transaction in which an insider group acquired the outstanding shares of the company.
Duff & Phelps Advised Trunkbow International Holdings Limited on its Going-Private Transaction
On November 14, 2012, Trunkbow International Holdings Limited (NASDAQ: TBOW) ("Trunkbow" or the "Company"), announced that its Board of Directors has received a preliminary non-binding proposal from Hou Wanchun, Chairman of the board of directors of the Company, and Li Qiang, Chief Executive Officer and a director of the Company or "Consortium Members", that proposes a "going-private" transaction involving the acquisition of all of the outstanding shares of the Company's common stock not beneficially owned by the Consortium Members at a price of US$1.46 per share in cash.
About Trunkbow International Holdings Limited
Trunkbow International Holdings is an innovative mobile application enabler, focused on providing telecom operators in China, with application platforms on which to offer Mobile Value Added Solutions and Mobile Payment Solutions to their subscribers.
Role of Duff & Phelps
Duff & Phelps is acting as the independent financial advisor to the Special Committee of the Board of Directors of Trunkbow International Holdings Limited in evaluating the proposed transaction.