S1E29: A tale of two Singapore delistings: BT Mark to Market (Ep 29)

Published: March 12, 2023, 4 p.m.

Synopsis: Listen to Senior Correspondent Ben Paul's analysis and insight on market trends and corporate issues in Singapore in this podcast series based on his weekly column in The Business Times.

The proposed break-up and delisting of Golden Energy and Resources and the general offer for Boustead Projects do not adequately compensate minority investors. These deals are also testing the rules and conventions around de-listings in the Singapore market. Ben Paul has insights. 

Highlights: 

02:13 Golden Energy already trading above all-cash consideration

05:18 Revised offer for Boustead Projects way below NAV, RNAV

09:28 SGX tightened up its rules on de-listings in 2019 

11:30 Investor complaint draws regulatory scrutiny of IFA role 

14:53 SGX’s position on general offers, de-listings could be tested

Produced by: Ben Paul (benpaul@sph.com.sg), Howie Lim and Claressa Monteiro

Edited by: Howie Lim

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