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

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Mia Pei

Mia Pei

Published Thu, Apr 4, 2024 · 09:05 AM — Updated Thu, Apr 4, 2024 · 10:23 PM
    • Best World says privatisation will provide the company the flexibility to optimise its resources to focus on the longer-term strategies of the business.
    • Best World says privatisation will provide the company the flexibility to optimise its resources to focus on the longer-term strategies of the business. PHOTO: BT FILE

    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.

    Best WorldAGM/EGMPrivatisation

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