News

Markets & Investing

Staff Reporter

, Singapore

Published:

1 year ago

Photo from Envato Elements

Ossia appoints Asian Corporate Advisors as IFA for privatisation offer

The Goh siblings offer $0.16 for each Ossia share.

Ossia International (Ossia) has appointed Asian Corporate Advisors as the independent financial adviser (IFA) to advise directors of the company on making a recommendation to shareholders regarding a buyout offer.

On 15 May, controlling shareholders Goh Ching Wah, Goh Ching Huat, and Goh Ching Lai made a voluntary, unconditional cash offer to acquire all the issued and paid-up ordinary shares in Ossia at $0.16 each.

The offer price represents a 41.6% premium over the last traded price of $0.113 on 9 May, before Ossia requested a trading halt on 13 May.

A circular with the IFA's advice and directors' recommendation on the offer will be sent to shareholders within 14 days of the offer document's electronic dissemination.

Ossia advises its shareholders to exercise caution when dealing with the company’s shares and consult their advisers when in doubt.

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