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Accept HNA $2.33 offer, OCBC tells CWT shareholders

PC Lee
PC Lee4/10/2017 11:12 AM GMT+08  • 2 min read
Accept HNA $2.33 offer, OCBC tells CWT shareholders
SINGAPORE (April 10): OCBC recommends shareholders accept HNA’s $2.33 offer price once the voluntary general offer (VGO) is made upon meeting the pre-conditions.
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SINGAPORE (April 10): OCBC recommends shareholders accept HNA’s $2.33 offer price once the voluntary general offer (VGO) is made upon meeting the pre-conditions.

OCBC says the offer price, which represents a 19.5% premium to its $1.95 fair value, is attractive and a good opportunity for shareholders to unlock value.

“HNA intends to delist CWT once public float falls below 10%,” says lead analyst Eugene Chua in a Monday note.

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