Singapore’s popular electronics, IT and furniture superstore – Courts Asia, is likely to be delisted from SGX after losing its free (public) float – the portion of shares of a corporation that are in the hands of public investors.
On Wednesday, Nojima Asia Pacific (the offeror ) who owns or have agreed to acquire 90% of Courts Asia.
SGX – Singapore Exchange Securities (SGX-ST) requires all listed members to have at least 10% of shares, to be held by the public at any one time.
In January, Nojima Asia Pacific announced a 20.5 cents cash offer for each share.
Last month, Nojima Asia Pacific informed it did not intend to revise its offer price despite financial adviser KPMG Corporate Finance commenting it as “not fair but reasonable“.
Courts Asia’s shares closed flat at 20 cents apiece on Wednesday.
You can read more about Courts Asia financial reports at HERE.
