Yet another delisting from the Singapore Exchange.
On 30 March 2021, Neo Group Limited (SGX:5UJ) has announced its plans to delist from the Singapore Exchange. Neo Group is an integrated food solutions provider in Singapore, which operates familiar brands like Neo Garden and Umisushi. Those who have catered buffets may have come across this company before.
In the article, let us analyse Neo Group’s offer and determine if it is fair for its shareholders.
Besides, as SGX has been suffering from a run of delisting recently, let us investigate if previous delisting have been beneficial to its shareholder.
Neo Group delisting offer
Although Neo Group’s CEO, Neo Kah Kiat said that there were no plans to delist despite holding 76.9% of the company back in 21 August 2020, this offer may not come as a surprise. After all, Neo Group has been religiously buying back its shares, since the second half of 2020....