In today’s briefing:
- Boustead Projects (BOCJ SP): Unconditional Offer at S$0.90 from Boustead Singapore
Boustead Projects (BOCJ SP): Unconditional Offer at S$0.90 from Boustead Singapore
- Boustead Projects (BOCJ SP)/BPL has disclosed a voluntary unconditional offer from Boustead Singapore Limited (BOCS SP) at S$0.90 per share, a 7.8% premium to the undisturbed price (3 February).
- The offer price is unattractive in comparison to peer multiples, historical trading ranges and precedent transactions. However, the offer price is not final.
- As Boustead Singapore aims to privatise BPL there is a possibility of a bump. The offer document will be despatched and the offer opens by 27 February.
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