The current offer price is an improvement from the original offer price of 90 cents was revised after concerned parties such as the Securities Investors Association of Singapore weighed in, calling for a better offer closer to Boustead Projects’ NAV of $1.265 per share.
PrimePartners Corporate Finance, as independent financial adviser for the proposed acquisition of Boustead Projects by Boustead Singapore, is of the view that the offer is “not fair” but “reasonable”.
Boustead Singapore plans to privatise its separately listed subsidiary Boustead Projects at 95 cents per share.
