Alliance Global Partners says Grindrod Shipping’s selective share capital reduction is effectively a buyout of its minority shareholders. The selective share capital reduction of $49.6M will effectively cancel 3.5M shares not held by the majority shareholder, the analyst tells investors in a research note. The firm says public shareholders will be effectively eliminated and TMI will own 100% of GRIN shares. As a result, it expects TMI will seek to delist from Nasdaq and other exchanges.
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Read More on GRIN:
- Grindrod Shipping Proposes Selective Share Cancellation
- Grindrod Shipping’s AGM Scheduled with Key Resolutions
- Grindrod Shipping Holdings Ltd. Announces Unaudited Financial Results for the Second Half and Full Year Ended December 31, 2023
- Is GRIN a Buy, Before Earnings?
- Grindrod Shipping Holdings Ltd. Announces Date for Unaudited Financial Results for the Second Half and Full Year Ended December 31, 2023
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