Friday, June 10, 2016

Otto Marine Privatisation Offer at $0.32

Otto Marine's share price rose after its controlling shareholder, Mr Yaw Chee Siew, offered to buy out shareholders at 32 cents. This represents quite a huge premium before the trading halt was closed.

Otto Marine's share price closed at 31.5 cents today. Lowest trade was at 31 cents.

There is still some risk that this might not go through as delisting is still subject to holders of the multi-currency notes agreeing to certain conditions.

The voluntary listing values the company at $68 million. Otto Marine trades at a discount top its book value.

No comments:

Related Posts Plugin for WordPress, Blogger...

My Blog List