Offer price for GYP Properties sweetened again to final S$0.20 per share

RUMAH & Co has once again sweetened its bid to privatise GYP Properties , raising the offer price to a final S$0.20 per share in cash, up 6.4 per cent from the previous price of S$0.188.

This comes after the offeror had on Sep 1 raised the offer price to S$0.188 per share, from the initial S$0.168 per share announced on Jul 8. The close of the offer has been extended to 5.30pm on Oct 7, the offeror announced in a bourse filing on Tuesday (Sep 13).

Rumah & Co said that it does not intend to revise the final S$0.20 offer price, which represents a 37.9 per cent premium to GYP’s volume-weighted average price for 1 month up to Jul 8, and a 3.6 per cent premium to its S$0.193 closing price on Tuesday.

As of Monday, Rumah & Co had received valid acceptance of the offer representing 81.45 per cent of GYP. Acceptances from the offeror’s concert parties represent 62.55 per cent of the total number of shares.