Amara Holdings

DRC, which is a consortium led by property developer Hwa Hong, will exercise its right to compulsorily acquire all remaining shares at the offer price of S$0.895 per share

The offeror, a consortium led by Hwa Hong, will compulsorily acquire all remaining shares and delist the company

Apr 28 offer values the hotel group at about S$514.6 million and represents a premium of 27 per cent over Amara’s closing price of S$0.705 on Apr 23

The total number of shares owned, controlled or to be acquired by the offeror, together with valid acceptances of the offer, amount to 90.88% of the total number of shares

Amara picks W Capital Markets to advise on offer from Hwa Hong-led consortium; Ban Leong appoints Asian Corporate Advisors

Merging with the hotel and property group trumps buying it via a consortium; other key issues need addressing

The S$0.895 offer represents a 33% premium over the company’s net asset value per share as at end-December 2024

It values the hotel group at S$514.6 million

Hotel-owning groups such as CDL, UOL and Amara have deeply understated book values