Synear Food Holdings – a former high flying S chip receives delisting offer from its major shareholder at $0.186 cents……..very disappointing but let’s see what the IFA says !! Tuesday, 16 October, 2012  4:23 PM
Posted by Kevin Scully

 Synear Food (SF) was once a market darling with its IPO in 2006 at $0.54 and rising to a high of more than S$2.00 on the way there, SF also placed 175mn shares at $1.85.  The chart below shows its rise to fame and its subsequent collapse.

Investors should read the delisting offer document and wait for SF’s IFA to give its opinion on the offer to.

On the surface the offer looks very unattractive.  The NAV of SF as at 30 June 2012 (its half year 2012 results announcement) was RMB2.31 or about S$0.45.  The net cash in SF as at the …