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.
