Acquisition of Excelpoint Technology by WT Microelectronics

 

Refer to my two previous posts on Excelpoint:

http://superphang.blogspot.com/2021/05/excelpoint-potential-multibagger.html of 22 May 2021

http://superphang.blogspot.com/2021/08/excelpoint-up-29609-in-day.html of 7 Aug 2021

 

Excelpoint announced on 13 April 2022 that WT Microelectronics Co., Ltd. (TWSE: 3036) (“WT”), through its wholly owned subsidiary WT Semiconductor Pte Ltd and Excelpoint have entered into a definitive agreement pursuant to which WT, through the Acquiring Entity, will acquire 100% equity in Excelpoint by way of a scheme of arrangement at a cash consideration of S$1.93 per Excelpoint share. The transaction, which values 100% equity of Excelpoint at over S$232.2 million, is expected to close in the third quarter of 2022, subject to the approvals of Excelpoint shareholders and relevant regulatory authorities as well as the sanction of the Scheme by the Singapore High Court.

The Excelpoint founder and CEO, Mr. Albert Phuay, will reinvest part of the cash consideration due to him under the Scheme in 20% equity of the Acquiring Entity, with the balance 80% stake owned by WT. Mr. Albert Phuay will continue to be the CEO of Excelpoint.

With the xd date for the 8.8 cents dividend set for 28 April, the price per share will add up to $2.018. This is some gap to my original target of $2.33 set in last May. Anyway, my ROI is easily more than 188% in less than a year. Solid!

The next challenge for me is to find another multibagger to maintain my solid ROI.

Prescientsuperphang
http://superphang.blogspot.sg