Reject the $0.57 offer says IFA to APAC Realty's independent directors

Goola Warden
Goola Warden5/27/2022 07:39 AM GMT+08  • 2 min read
Reject the $0.57 offer says IFA to APAC Realty's independent directors
IFA advises APAC Realty's directors to reject offer of $0.57 from NHPEA Ace Realty
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

The independent financial advisers, Xander Capital, to the independent directors of APAC Realty have advised its board to reject the offer of $0.57 per share from NHPEA Ace Realty Company.

"Based on our analysis and after having considered carefully the information available to us as at the Latest Practicable Date, we are of the opinion that, as of the date hereof, the terms of the Offer, on balance, are not fair and not reasonable. Accordingly, we advise the Directors to recommend Shareholders to REJECT the Offer," Xander said in the offer circular.

On April 25, NHPEA Ace Realty Company , an entity controlled by Morgan Stanley Private Equity Asia, made an unconditional mandatory general offer for all the outstanding shares in the capital of APAC Realty that it didn't own.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now