Ramba

Ramba: Counter is trading at a 13% discount to the minimum price of $0.60 that was offered by a potential buyer to Ramba's majority shareholder. Recall on 6 Jun, Ramba disclosed that the Soeryadjaya family and concert parties, which own a controlling 33.1% stake, have been in discussion with a potential buyer for their entire stake. Family patriarch Edward Soeryadjaya has also received a conditional expression of interest for a possible acquisition of 51% of Ramba shares by way of a voluntary conditional cash partial offer at an indicative offer price of $0.60-0.70. Based on SGX ruling, any new shareholder that has acquired 30% of outstanding shares will tigger a mandatory takeover bid. The offer price cannot be lower than the highest price paid by the offeror six months leading up to the trigger of the offer.