OSIM INTERNATIONAL LTD
O23.SI
OSIM International: Raised offer to S$1.39/share
- OSIM International’s Chairman and CEO Mr Ron Sim has revised his voluntary unconditional cash offer from S$1.32 to S$1.39 for all shares in the company.
- It is also stated that there will be no further revisions made to this final offer price.
- Shareholders who accept the offer will receive S$1.39/share, while those who receive the FY15 final dividend of S$0.02/share will receive the adjusted S$1.37/share.
- The offer will now close on 25 April 2016.
- We recommend shareholders to accept the offer, as we keep to our view that the offer is reasonable, representing 20.5x FY15 P/E and 20.1x FY16F P/E, while the stock lacks strong drivers for earnings growth.
Jodie Foo
OCBC Securities
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http://www.ocbcresearch.com/
2016-04-05
OCBC Securities
SGX Stock
Analyst Report
0.82
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0.82
