PETALING JAYA: Lingui Developments Bhd's independent advisor has advised shareholders to vote in favour of the privatisation of the timber company by Hong Kong Stock Exchange-listed Samling Global Ltd as the offer price is deemed reasonable given Lingui's historically modest market price.
Alliance Investment Bank said the offer price of RM1.63 per Lingui share was “not fair” as it was below the intrinsic value of RM1.74 to RM1.92 as ascribed by PricewaterhouseCoopers Capital.
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