what is so good to be Listed Company in SG? Osim say fuck off

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An honorable member of the Coffee Shop Has Just Posted the Following:

http://m.todayonline.com/business/os...ompany-private


Osim CEO raises offer to S$326.7 million to take company private


OSIM concept store in Singapore Photo: OSIM via Channel NewsAsia
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PUBLISHED: 1:29 PM, APRIL 5, 2016UPDATED: 5:55 PM, APRIL 5, 2016
SINGAPORE — Osim International Chairman and Chief Executive Officer Ron Sim increased his cash offer by more than 5 per cent to S$326.7 million to take Asia’s biggest maker of massage chairs private. The shares jumped to a five-month high.

Mr Sim raised his offer to S$1.39 per share from S$1.32 through his investment vehicle, Vision Three, according to a statement Tuesday (April 5). Osim has been trading above the the original offer price since the offer was first announced on March 7.

Osim shares climbed 3 per cent to S$1.395 as of 9.55am in Singapore, heading for its highest close since Nov 2.

The latest offer is final and will close on April 25 and will be extended to shareholders who have already accepted the earlier offer, according to the statement. Sim currently controls 69.36 per cent of the company, a slight increase from 68.31 per cent he held on to before making his first offer.

“We recommend shareholders to accept the offer, as we keep to our view that the offer is reasonable, “ Ms Jodie Foo, an analyst at Oversea-Chinese Banking Corp, wrote in a note to clients on Tuesday. “The stock lacks strong drivers for earnings growth.”

Net income last year declined 50 per cent to S$51.5 million as the currency turmoil across Asia damped sales, the company said in January. Profit will climb to S$57.8 million in 2016, according to the average of eight analyst estimates compiled by Bloomberg.

The eight analysts covering the stock had an average 12-month price target of S$1.18 for Osim, according to data compiled by Bloomberg. Six of them had “hold” ratings, while the remaining two analysts were evenly split with “buy” and “sell” recommendations. BLOOMBERG


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