Currently, analysts from Maybank Securities, OCBC Investment Research (OIR) and Lim & Tan Securities have recommended investors “wait” for the final offer. At the same time, they have maintained their “buy” call on the company. The Edge Singapore's own analyst has said Dyna-Mac's intrinsic value is 61 cents.
In the offer document dated Oct 2, Hanwha Group has kept its offer price of 60 cents for Dyna-Mac’s shares, although it has not said this is the final offer. However, as of Oct 2, no third party has announced an offer for Dyna-Mac. The offer currently represents the only offer available for acceptance by shareholders.
Hanwha has said it intends to keep Dyna-Mac listed. According to the independent financial advisor's (IFA) letter for the non-privatisation mandatory general offer for Datapulse Technology (SGX:BKW
) , the average premiums / (discount) to the one-, three-, six- and 12-month volume weighted average prices (VWAPs) for all non-privatisation offers on the Singapore Exchange (SGX:S68) (SGX) from 2020 to 2023 across 17 deals, are (1.5)%, (1.5)%, (0.1)% and 8.9% respectively. As such, Hanwha’s offer price, in this case, represents a 6.2%, 14.1%, 29.3% and 50% premium over the one-, three-, six- and 12-month VWAP, respectively.
