Courts Asia gets 20.5 cents per share offer from Tokyo-listed Nojima

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SINGAPORE (Jan 18): Courts Asia, the regional purveyor of furniture and household and IT appliances, has received a 20.5 cents voluntary conditional cash offer from Nojima Asia Pacific for all its issued and outstanding ordinary shares.

The offer price represents an approximately 34.9% premium above the closing price of 15.2 cents on the last trading date of Wednesday and an approximately 23.3% premium above the volume weighted average price (VWAP) per share over the six-month period prior to and including the last trading date.

As of Friday, Courts Asia has an issued and fully paid up share capital of S$267.3 million, comprising 517.5 million shares with 42.5 million treasury shares. The offer values Courts Asia at... (Click here to read the full story)