Anonymous
What is happening to the BreadTalk group share price?
Privatisation seems to be coming, why is this happening and how will it affect my investment?
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Kenneth Lou
25 Feb 2020
Co-founder at Seedly
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Rais M
25 Feb 2020
Accountant at SME
If you are referring to today? Privatisation.
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Probably due to the virus and also the recent management change. They also expand quite aggressively...
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BREADTALK Group's George Quek, his wife Katherine Lee and a substantial shareholder have together made a voluntary conditional cash offer to acquire all issued ordinary shares in BreadTalk at S$0.77 apiece, with a view to delist the food and beverage player.
This also comes as BreadTalk has sunk into the red for its fiscal fourth quarter and 2019, according to its financial statements released late on Monday night.
The offeror is BTG Holding Company, a special purpose vehicle owned by Dr Quek, who is BreadTalk's founder and chairman; Ms Lee, who is BreadTalk's deputy chairman and executive director; as well as Minor International, a Thai-listed hospitality and leisure company.
The offer price of S$0.77 per share represents a premium of about 19.4 per cent over the closing price of S$0.645 on Feb 21, and a 30.1 per cent premium over the one-month volume weighted average price.
The offeror believes that privatising BreadTalk will give the company more flexibility to address challenges it is facing, manage the business and optimise the use of BreadTalk's management and resources.
Source: https://www.businesstimes.com.sg/companies-mark...