Excelpoint is to be delisted from Singapore Exchange (SGX) with effect from 9.00am on Sept 19.
See: CGS-CIMB notes positives for Excelpoint Technology with upcoming acquisition by WT Microelectronics
This follows Excelpoint announcing on April 13 that WT Semiconductor Holdings, a wholly-owned subsidiary of WT Microelectronics, will be acquiring 100% of issued ordinary shares of Excelpoint through a scheme of arrangement, which had taken effect on Sept 6 and is expected to be completed on Sept 15.
WT Electronics’ offer of $1.93 per share values Excelpoint at 6.8x FY2021 P/E and 1.5x FY2021 P/BV. At its offer price, the scheme consideration exceeds the highest closing price of Excelpoint’s shares in the 10-year period till April, according to Excelpoint’s offer document.
Shares in Excelpoint last traded at $1.92.
Photo: Samuel Isaac Chua/ The Edge Singapore
