Investors should be wary of taking a bite into Sakae despite price surge
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SAKAE Holdings executive chairman and controlling shareholder Douglas Foo’s proposed sale of a 20 per cent stake in the company for S$26.5 million might have raised some eyebrows.
Sakae’s shares closed at S$0.099 on Jul 18, a day before this proposed deal was announced. This translated to a market capitalisation of only about S$13.7 million.
The premium that Makara Capital is proposing to pay for the nearly 27.8 million shares in the mainboard-listed company is over nine times of that closing price.
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