Ossia International’s Goh family has received valid offer acceptances of 217.1 million shares representing 85.92% of the total number of issued shares in Ossia as at the close of its privatisation offer. The offer closed at 5.30pm on Aug 30 and is no longer open for acceptances.
On June 12, Ossia International O08 announced that brothers, Goh Ching Wah, Goh Ching Lai, Goh Ching Huat, made a voluntary unconditional general offer of 14.5 cents per share for all the shares the family does not own in the company. The company would have been privatised had the joint offerors received acceptances exceeding 90% of the total number of shares in Ossia.
On Aug 14, Ossia said that the offer price of 14.5 cents per share will remain the same until the close of the offer.
Goh Ching Wah, also known as presidential hopeful George Goh in Singapore’s 2023 election, bought 8,500 shares for $1,232.50 or 14.5 cents per share from the market on Aug 22. The purchase increased Goh’s total number of shares – direct and deemed – to 211.5 million with his stake remaining at 83.73%.
He bought another 3,000 shares via the market on Aug 26 for a total of $435 or 14.5 cents per share with his stake remaining relatively unchanged.
On Aug 29, Ching Wah bought 97,300 shares at 14.5 cents apiece or $14,108.50, bringing his total stake to 84.15% or 212.6 million. The figure includes the number of shares received from the take-over offer.
See also: Goh family makes privatisation bid of shares in Ossia with offer of 14.5 cents (update)
Shares in Ossia closed flat at 14.5 cents on Aug 30.
