Japfa (SGX:UD2) received in-principle approval to delist from the SGX, according to a Monday filing with the Singapore Exchange.
This comes after the company received a proposed privatization offer via a scheme of arrangement, offering shareholders SG$0.62 in cash per share, representing a 34.8% premium to the last traded price on Jan. 15.
The joint offerors - TAC 1 Pte. Ltd. and TAC 2 Pte. Ltd. - comprise entities owned by Renaldo Santosa, Gabriella Santosa, and Rachel Anastasia Kolonas. The scheme, targeting 18.33% of Japfa's outstanding shares, excludes holdings by controlling shareholders, who own 81.67%.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.