Ron Sim's S$1.39 a share offer 'fair and reasonable'

Singapore

OSIM International's founder Ron Sim's S$1.39 a share ex-dividend offer to privatise his company is "fair and reasonable", said independent financial adviser PwC in a circular to shareholders on Friday night.

PwC noted that among other factors, the price-to-earnings ratio of 17.3 times, implied by the final offer price, is above the median of 15.3 times and mean of 14.7 times of the ratio of a range of comparable companies such as Hong Kong-listed jeweller Chow Sang Sang, Chow Tai Fook, Luk Fook, and leather goods company Prada.