Should GEH’s free float fall below 10%, the shares will be suspended and the acquirer may offer the remaining investors an exit. But what happens to investors who do not submit their shares in a privatisation offer?
As the April 25 AGM of Great Eastern Holdings (SGX:G07
) (GEH) approaches, minority shareholders were keen to table resolutions to enhance the valuation of the stock and its ROI by increasing the liquidity of GEH shares.
Minority shareholders have cited liquidity issues and are concerned that Oversea-Chinese Banking Corp (OCBC), which owns 88% of GEH, may acquire the remaining less than 2% it does not own, at a price less than the embedded value per GEH share of $36.59.
