delisting

Cityneon gets EDBI boost as it looks to break into new markets

SINGAPORE (Aug 26): Cityneon Holdings, which was delisted from the Singapore Exchange (SGX) and privatised earlier this year, has gotten a shot in the arm from the investment arm of the Singapore Economic Development Board.

Cityneon executive chairman and group CEO Ron Tan tells The Edge Singapore that EDBI’s share in the company will amount to about 2.3%.

New developments in the Challenger delisting saga

SINGAPORE (June 17): A reader of The Edge Singapore who owns shares in Challenger Technologies asked me last week if I was going to write anything more about the company’s proposal to delist from the Singapore Exchange. I didn’t think I was. But after reading the exit offer letter and circular to shareholders, both dated June 12, I changed my mind.

New developments in the Challenger delisting saga

SINGAPORE (June 17): A reader of The Edge Singapore who owns shares in Challenger Technologies asked me last week if I was going to write anything more about the company’s proposal to delist from the Singapore Exchange. I didn’t think I was. But after reading the exit offer letter and circular to shareholders, both dated June 12, I changed my mind.

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Challenger founder pushes ahead with delisting plans; says exit offer price of 56 cents per share is 'final'

SINGAPORE (June 12): Digileap Capital, the partnership led by the family of Challenger Technologies founder Loo Leong Thye, is pushing ahead with plans to voluntarily delist the IT products retailer.

And it is not budging from its exit offer price of 56 cents per share, which some shareholders have deemed to be too low.

Digileap says Deloitte & Touche Corporate Finance, the independent financial adviser for Challenger, has opined that the financial terms of the exit offer are “fair and reasonable”.

800 Super's independent adviser says shareholders should accept Lee family's offer

SINGAPORE (June 10): 800 Super Holdings says independent financial adviser (IFA) Novus Corporate Finance considers the privatisation offer from its controlling Lee family to be “fair and reasonable”.

See: 800 Super gets 90 cents per share privatisation offer from KKR

800 Super gets 90 cents per share privatisation offer from KKR

SINGAPORE (May 6): Environmental services provider 800 Super Holdings has received a 90 cents per share cash offer from 8S Capital Holdings with the intention to delist.

8S Capital is wholly owned by American investment firm Kohlberg Kravis Roberts & Co (KKR).

The deal will be funded by KKR with a combination of debt and structured financing to 8S Capital, primarily from pools of capital including KKR’s Private Credit Opportunities II fund and proprietary investment vehicles.

Challenger's minority shareholders should push for higher exit offer as company pursues new future

SINGAPORE (Apr 29): Over the past couple of weeks, shares in Challenger Technologies have intermittently traded above 56 cents, the amount of cash minority investors will receive for each share they own as part of the company’s plan to delist from the Singapore Exchange. Is this just a short-term market anomaly? Or, is it a sign that a better exit offer price is in the offing?

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Challenger Tech's 2.94% shareholder says offer price too low, calls for higher dividend payouts

SINGAPORE (Mar 22): Pangolin Investment Management, which holds a 2.94% stake in Challenger Technologies through its Pangolin Asia Fund, is calling on other shareholders to reject Digileap Capital’s delisting offer at the company’s upcoming EGM.  

Pangolin says the offer price of 56 cents per share, which translates to a price-to-earnings ratio of 9.9 times, is too low and thus unfair to minority shareholders.

Courts Asia to be delisted after losing free float

SINGAPORE (Mar 14): Courts Asia, the regional retailer of furniture and household and IT appliances, is set to be delisted after losing its free float.

As at 5pm on Wednesday, offeror Nojima Asia Pacific now owns or have agreed to acquire 90% of Courts Asia.

SGX listing rules require listed members to ensure at least 10% of all shares, excluding treasury shares, to be held by the public.

In January, Nojima tabled a 20.5 cents cash offer for each Courts share. Th offer remains open until 5.30pm tomorrow.

Singapore's stock market is shrinking, but does it matter?

(Feb 12): Robson Lee had a decision to make. In his more than two-decade career as a capital-markets lawyer in Singapore, he’d helped more than 30 companies list on the country’s stock exchange, bringing to market everything from a grocery store chain to a pawnbroker. Business had been good, but it was starting to dry up. Lee decided he had to get out. “I saw the decline,” he says. “That’s why I moved.”

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