Ron privatising OSIM when share price is very low compared to high of $2.60 in 2014.
Quote DBS:
"The Chairman and Chief Executive Officer of OSIM
International, Mr. Ron Sim Chye Hock, has made a voluntary
unconditional cash offer of S$1.32 for all the issued ordinary
shares in the company. Mr. Sim currently owns 68.31%
stake in OSIM. The offer price represents a premium of
approximately 31.8% and 33.5% to the volume-weighted
average price per share for the corresponding one-month
and three-month periods including 29 February 2016,
respectively. The offeror intends to make the offer with a
view to delist and privatise OSIM. At S$1.32, this represents
14.4x FY16 PE and 2.32x FY16 P/B and a 3% premium over
our target price of S$1.28. "
