Fairfax Asia making cash offer of S$0.3535 a share for Singapore Reinsurance with a view of delisting

Singapore

FAIRFAX Asia is making a cash offer for Singapore Reinsurance's 71.82 per cent stakes that it and its concert party do not own, at S$0.3535 a share, conditional on them garnering more than 50 per cent stakes.

It said the offer price represents a premium of 20.6 per cent over the volume-weighted average price per share for both the one-month and three-month periods, and a premium of 21.9 per cent and 27.6 per cent over that for the six-month and 12-month periods respectively up to and including March 18, when the counter closed at 29.5 cents.