Fairfax Asia Limited is offering to take Singapore Reinsurance Corporation private with an offer of 35.35 cents per share.
The offer price has been determined on the basis that the offer shares will be acquired with the right to receive any dividends that may be declared, paid or made by the company on or after March 20. This includes the final one-tier tax exempt dividend of 0.35 cent per share for the FY2020 ended Dec 31, 2020.
The offer represents a premium of 20.6%, 20.6%, 21.9% and 27.6% over the volume-weighted average price (VWAP) per share for the one-, three-, six- and 12-month periods respectively up to and including March 18.
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