Goh family offers to take Ossia International private at $0.145 per share

The firm is a regional distributor and retailer of lifestyle, outdoors and luggage products.

The Goh family made a voluntary unconditional general offer to buy out SGX-listed Ossia International in an all-cash offer at $0.145 per share.

The joint offerors, brothers Goh Ching Wah, Goh Ching Lai and Goh Ching Huat, intend to privatise the Singapore-based regional distributor and retailer of lifestyle, outdoors, luggage and accessories products.

They said the company has been enduring low trading liquidity and the offer allows public shareholders to exit their investment at a premium without incurring brokerage and other trading costs.

The offer consideration is 20.83% higher than the stock’s last traded price on 7 June. It also represents a premium of 19.83%, 20.83% and 16% over the volume weighted average price (VWAP) of shares for the one-, three-, and six-month periods, respectively.

In taking the firm private, the family believes the company no longer needs access to equity capital markets to finance its future operations. 

Desliting it from the Singapore Exchange will eliminate compliance costs and help the firm focus its resources on business operations while giving the management greater flexibility.