The Motley Fool Singapore
Is The Privatisation Offer For Cityneon Holdings Limited’s Shares A Fair One For Shareholders?
Yesterday evening, West Knighton launched a privatisation offer for Cityneon Holdings Limited‘s (SGX: 5HJ) shares. This article will take a closer look at the offer and determine if West Knighton’s deal is fair for Cityneon’s shareholders. The offer West Knighton’s deal is a mandatory conditional cash offer which values Cityneon at S$1.30 per share, or S$318 million for the whole company. The offer is unconditional and the offer price is final and will not be revised. Cityneon’s announcement on the deal stated that the offer price is at a premium to the highest ever closing price of the company’s shares to-date; Cityneon’s share price closed at S$1.26 on 24 October 2018, before trading of the company’s shares was temporarily halted prior to