Axington tops offer price in intra-day trade

Its shares hit 21.5 Singapore cents briefly before closing at 20.5 cents, close to Dorr's offer price of 20.8 cents

Published Tue, Jun 2, 2020 · 09:50 PM

Singapore

SHARES in Catalist-listed Axington, formerly known as Axcelasia, rose as high as 21.5 Singapore cents on Tuesday, above Dorr Global Healthcare International's offer price of 20.8 Singapore cents.

This comes after Dorr, which provides management consultancy services for healthcare organisations, said on Monday that it plans to make a mandatory unconditional cash offer for Axington in a deal that values the company at S$33.3 million.

The offer price of 20.8 Singapore cents represents a premium of 43.45 per cent to Axington's last traded pri…