Update: OSIM shares halted after trading at final offer price

IN an unusual turn of events, OSIM International asked for a trading halt at 4.48pm after trading for most of the day post its final offer announcement. No explanation was given, though an announcement is expected.

OSIM International founder and chief executive Ron Sim had sweetened his privatisation offer by seven Singapore cents before markets opened on Tuesday, though he said his offer was final.

The revised final offer was at S$1.39 a share including a two-cent dividend. The stock was trading ex-dividend on Tuesday. While OSIM shares initially traded as much as three Singapore cents above the ex-dividend offer price of S$1.37, they came down in the course of the day to trade at as low as S$1.365.

OSIM last traded at S$1.37.