The Clap
Pachin’s (PACH) will abolish its global depository receipts (GDR) program, & is tapping an investment bank to discuss the multiple acquisition offers it received.
The Deets
Pachin’s board of directors decided to delist the company’s GDR’s from the London Stock Exchange (LSE), as it doesn’t find the program profitable anymore given its high fees.
The company is also looking to tap an investment bank to assist with the offers from Sipes & Saybad.
Why this Matters
Pachin is one company to keep an eye on for the time being.
The decision to abolish its GDRs comes in the midst of a bidding war for the paint manufacturer, & the company is setting up to allow for a full due diligence.
Pachin is one busy bee at the moment 🎨
