Singapore’s largest F&B catering group Neo Group announced that it will be privatising. The group’s founder, CEO and chairman Neo Kah Kiat and his wife Liew Oi Peng will be buying the remaining shares in Neo Group at 60 cents per share.
This is no surprise as Neo has been frequently buying back shares in his company since the second half of 2020. In a previous interview with The Edge Singapore, Neo said that the reason for the buybacks at that time was because he found that the shares were trading at a PE ratio that was too low.
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