Otto Marine has named Stirling Coleman Capital as its independent financial adviser (IFA) to advise it over the proposed bid to take the company private.

Established in 2001, Singapore-headquartered Stirling Coleman Capital specialises in providing M&A and corporate finance advisory to small and medium sized enterprises in the Middle Market in Asia.

Otto Marine said a circular for the purpose of convening an extraordinary general meeting and the recommendation of the IFA will be dispatched in due course.