It has almost been four years since I did a analysis on Challenger Technologies (Read more: My Personal Analysis of Challenger Technologies). This week, Challenger Technologies announced that it intend to delist from the SGX with Digileap Capital making a cash exit offer of all shares at an exit offer price of S$0.56 per share.

In their announcement which you can find on SGX, Challenger Technologies highlighted that the exit offer price of S$0.56 in cash per share represents an opportunity for shareholders to realize their entire investment in Challenger, which may otherwise be difficult due to the low trading liquidity of the shares.

The exit offer price of S$0.56 in cash per share represents a premium of approximately 15.1% over the volume weighted average price (“VWAP”) of S$0.487 for the 12-month period up to and including the Last Full Market Day.

One of the reasons given for