LEISURE & ENTERTAINMENT | Staff Reporter, Singapore

OSIM founder moves to take company private for $1.32 per share

It represents a massive premium over its current price.

After suffering several quarters of weak sales and profits, OSIM's founder Ron Sim has offered to delist the lifestyle company at a price of $1.32 per share.

The offer price represents a 31.8% premium over the stock's 1-month volume weighted average price (VWAP) and a 33.5% premium over 3-month VWAP.

As at the Offer Announcement Date, Sim owns 506,554,914 shares of the Company, representing a 68.31% stake.

Credit Suisse (Singapore) Limited is acting as exclusive financial advisor and Morgan Lewis Stamford as legal advisor to Mr. Ron Sim. 

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