Hot stock: Best World jumps 10.8% after exit offer at S$2.50 per share via selective capital reduction

BEST World’s shares jumped 10.8 per cent after the company on Wednesday (Apr 3) proposed to offer S$2.50 in cash per share by way of a selective capital reduction to eligible shareholders to privatise the business.

The offer price represents a premium of 42.9 per cent over the last traded price of S$1.75 on Mar 21, the last full trading day prior to the delisting intention announcement on Mar 22.

It also represents a 12.6 per cent premium over the latest closing price of S$2.22 on the day before the offer announcement.