For those holding OSIM, you must be happy that the final price increase by $0.02 to $1.37.However, there is story behind this.
What makes the entire saga so interesting (and hilarious) is that the firm doing the privatisation, bought the shares from the open market than the original offer price of $1.37. SIC stepped in and ordered OSIM to offer $0.02 more. How much more does this cost? a whopping $4.7m !
Basically, OSIM scored own goal. who would have thought such an execution error could have occurred by a professional firm. I can imagine some of those involved will have their commission cut. haha.
This only goes to show that even the best can make mistakes. One can do tonnes of research and fancy excel, but if your execution is sub par, then you will end up like OSIM.
See original article from ST below …Read the full article →