The news is out for Otto Marine and it's time to watch the market 9am sharp. The marine and shipping sector would run just a little more before sellers would look to lock in $$ in the short term. I will be watching Viking later and may gave a Whatsapp alert.
Otto Marine receives 32 cents per share cash offer from controlling shareholder to take company private
Source: TheEdge Markets | Publish date: Wed, 8 Jun 2016, 08:23 PM | >> Read article in News website
SINGAPORE (June 8): Otto Marine has received a privatisation offer from its executive chairman Yaw Chee Siew.
Yaw, who is also the 61.2% controlling shareholder of Otto Marine, is offering 32 cents cash for each Otto Marine share he does not own through Ocean International Capital, a special purpose vehicle set up for the exit offer.
The exit offer price is 39.13% higher than the last transacted price of 23 cents on June 1.
Ronald K - Market Psychologist - A Stock Market Opportunist
