18-07-2024, 07:34 PM
(18-07-2024, 03:00 PM)ghchua Wrote: 90% is not the target. 90% is only for listing requirements in order to maintain free float and prevent suspension.
Even if they reaches 90%, they will not be able to delist even with a "Fair and Reasonable" opinion from the IFA as they need 75% of independent shareholders to accept the offer for them for them to delist. Otherwise, the stock will be suspended due to insufficient free float but remain listed.
Speaking of which, i wonder about the timing, i.e. why offer now instead of before the changes to the compulsory acquisition requirements take place(I think last year ?) ? Wldn't it be easier for the offeror ?
I wld imagine such a corporate action wld have been in consideration for some time already ? Could it be funding issues, the share price, or ???