SIAS should be more careful before picking sides
AS Singapore's leading voice for all minority shareholders, the Securities Investors Association (Singapore), or SIAS, should tread carefully when getting involved in ongoing general offers.
SIAS has been an outstanding champion for minority shareholders in Singapore, and its best work has been done when standing up for minority shareholders who are oppressed or who struggle with poor corporate governance and other improprieties.
But in some recent cases, SIAS has also stepped into the fray in instances where the only issue appeared to be that a general offer was deemed to be too low. In such cases, SIAS's support for minority shareholders of the target company may have come at the expense of minority shareholders of the offeror, and it is not always clear why one side should benefit from SIAS's clout more than the other when both sides are playing by the rules.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Nomura, Mizuho face losses on All Blue fund’s failed trades
Stablecoin Tether steps up monitoring in bid to combat illicit finance
HSBC asked by US$890 billion investor group to set energy goal
BHP’s biggest rivals sit on the sidelines of Anglo M&A drama
Abu Dhabi hub carrier Etihad adds banks to US$1 billion IPO
Barclays is the latest firm to face anti-ESG wrath in Oklahoma