Fragrance Group tycoon Koh Wee Meng, Aspial launch bid to take AF Global private

A consortium led by Aspial Corp and Koh Wee Meng has initiated a bid to privatize AF Global, offering 11 cents per share for the remaining 27.35% stake, totaling approximately $31.8 million. Aspial holds a 41.75% stake, while Koh owns 30.91%. The move aims to provide management with more flexibility and reduce costs associated with being listed, as AF Global has not raised funds through equity markets since 2010. The offer represents a 23.6% premium over the last closing price of 8.9 cents, and AF Global shares rose to 10.9 cents following the announcement.