Ossia International receives privatisation offer

It will be via a voluntary unconditional cash offer of $0.16 per share.

Ossia International’s Goh brothers is seeking to take the company private via a voluntary unconditional cash offer of $0.16 per share.

The offer price represents a premium of around 41.59% over Ossia’s last traded price of $0.113 cents.

As at 15 May, the siblings hold a total stake of about 86.06%. The offerors will need to get acceptances exceeding 90% of Ossia’s shares.

According to the family, the latest offer comes amidst a “challenging business environment” in Singapore and its other key markets due to tariff uncertainties amongst other reasons.

The offer will remain open for acceptance for at least 28 days from the date of the offer document.