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Moya Holdings Asia receive privatisation offer
Tamaris Infrastructure, the controlling shareholder of Moya Holdings Asia, wants to privatise the company with an offer of 9.2 cents per share.
Moya Holdings Asia, based in Indonesia, is in the water treatment business. Tamaris Infrastructure and its concerted parties already hold 72.84% of the company.
The offer price of 9.2 cents is a premium of 48.1% over the three-month VWAP of 6.21 cents, and is higher than the 7.7 cents peak market price the share was able to achieve.
As at June 30, the company&rsquo s net asset value is 8.93 cents per share.
The offer is final and will not be revised &ldquo under any circumstances.&rdquo
The offer is an &ldquo opportunity for shareholders to exit their entire investment in cash at a premium and with price certainty, against the backdrop of a challenging macro and operating environment.&rdquo
Moya Asia really dosed the current penny interest single-handedly. Plunged from last Thur high of 11.9 to a low of 10.1 this morning.
Hope it recover well otherwise the sleepy market with Deepavali holiday this Wed doesn't help the market well
Hope it recover well otherwise the sleepy market with Deepavali holiday this Wed doesn't help the market well
Today gap down signifies downtrend prevail which provides very good opportunity to short. However, DYODD.
Will Moya hit 0.099 on Monday? Don' t catch the falling knife. Caveat & DYODD.