Top Global minorities need better protection
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
INVESTORS have been getting some raw deals of late, and it may be time to consider tweaking the rules in order to better protect minority shareholders.
A case in point: On April 30, Sukmawati Widjaja's privately owned SW Investment Holding made an offer of S$0.39 per share for property group Top Global. The offer price represents a discount of nearly 47 per cent to Top Global's net asset value per share as at end-2020.
In an announcement, the offeror had highlighted the offer price's 122.9 per cent premium over Top Global's share price just before Ms Widjaja bought an 8.1 per cent block of shares in March in an off-market transaction at S$0.39 apiece.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
TRENDING NOW
‘Boring’ is the new black: The stars are aligning for a Singapore stock market revival
Near sell-out launches in March boost developer sales to 1,300 units after four slow months
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Genting Singapore’s Lim Kok Thay receives S$7.5 million pay package for FY2025
