The offer price represents a premium of approximately 2.4% over the last transacted share price of 41 cents on Aug 22, which is the last full day on which the shares were traded on the SGX.
Catalist-listed Silkroad Nickel has received a privatisation bid that will value the company at $109.7 million. The offer is also made with a view to delist and privatise the company.
According to an Aug 29 filing, Horowitz Capital, an investment holding company, plans to make a voluntary conditional general offer of 42 cents per share for all the issued ordinary shares in Silkroad Nickel it does not already own. Shareholders of Silkroad Nickel may accept the consideration in cash or one new ordinary share in the capital of the offeror in lieu of the cash consideration.
