Bookmark & Share
In an SGX filing, the company revealed that the OTP was granted by G.W.T International Pte Ltd. Photo: Google Street View
Nanofilm Technologies International Limited has exercised an Option to Purchase (OTP) to acquire a property at 11 Tai Seng Drive for $30.38 million.
In an SGX filing, the company revealed that the OTP was granted by G.W.T International Pte Ltd.
It noted that the consideration was arrived at “after arm’s length negotiations and on a willing buyer and willing seller basis after taking into consideration the valuation of the property carried out by an independent third party valuer, Real Estate Analytics Pte Ltd, commissioned by the company”.
The valuation report pegged the property’s market value at $30.5 million as of 15 March.
The market value constitutes less than 1% of the company’s market capitalisation as of 8 April.
Suggested read: Property Valuation: How to use it to Maximise Your Profit?
Payable in cash, the consideration will be funded through internal funds and bank borrowings, said Nanofilm Technologies.
The company does not expect the proposed acquisition to materially affect its “consolidated net tangible assets per share or earnings per share of the group for the financial year ending 31 December 2021”.
Looking for a property in Singapore? Visit PropertyGuru’s Listings, Project Reviews and Guides.
Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this story, email: victorkang@propertyguru.com.sg
Related Articles:
Mapletree upgrading Tai Seng Drive facility into $95m data centre
Mapletree Industrial Trust completes acquisition of Tai Seng property