SUBSCRIBERS

Offer for Wheelock 'fair, reasonable, but not compelling': IFA

It says that although the offer price is a 19% discount to NAV, the discount is less than its trading discount in the past year

Published Fri, Aug 24, 2018 · 09:50 PM

Privatisation

Singapore

PRIMEPARTNERS Corporate Finance, the independent financial adviser (IFA) to the recommending directors of Wheelock Properties (Singapore), on Friday said that the financial terms of the offer to take the company private are "fair and reasonable, but not compelling, and are not prejudicial to the interests of minority shareholders".

It reached this conclusion after considering that the developer's revenue has decreased significantly in the period unde…

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes