Osim founder Ron Sim made an offer to take the company private.
An announcement posted on the Singapore Exchange website claims that Sim is offering SG$1.32 a share, he also mentioned that he has no intention of changing the company’s business, redeploying its fixed assets or cutting staff.
Sim now owns a 68.31 per cent stake in Osim.
Osim was founded in 1983 and has been listed on the SGX mainboard since July 2000, it is mostly known for its massage chairs and fitness equipments.
Also mentioned in the announcement was that Sim will conduct a review of Osim’s operations, management and financial position and will evaluate several strategic options.