SYNEAR FOOD stock is on the way to delisting from the Singapore Stocks Exchange. The shareholders of Synear Food stock will be offered an exit cash offer of $0.186 per Synear food stock and this translates to 40% of the Price-to-Book ratio. Although retail investors may object to the exit offer price, 95% of the shareholders have voted for the exit cash offer and hence the delisting process is on the way for Synear Food stock.
At $0.186, the exit cash offer price is around one-third of Synear Food’s IPO price of $0.54 in year 2006. A year after listing on SGX in year 2007, Synear has a placement of shares at $1.85 per share and I am sure investors bought into the stock as Synear stock performed excellently during the year, to rise to a peak of $2.44 per share in year 2007.
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