DBAY Advisors Limited launched a simplified public tender offer to acquire remaining 16.50% stake in SQLI SA from Moneta Asset Management, Amiral Gestion and other individual shareholders for approximately ?250 million.

DBAY Advisors Limited launched a simplified public tender offer to acquire remaining 16.53% stake in SQLI SA (ENXTPA:SQI) from Moneta Asset Management, Amiral Gestion and other individual shareholders for approximately ?250 million on September 20, 2024. Offeror launched at a price of ?54.00 per share. The Offeror therefore believes that the Offer presents a liquidity opportunity for SQLI's shareholders.

The Offeror has also indicated that, if the results of the Offer so permit, it intends to implement a squeeze-out on the Company's shares. Amiral Gestion and Moneta Asset Management, the Company's main institutional investors, have undertaken (i) to sell their shares to Synsion Bidco prior to the opening of the Offer, in the case of the former, and (ii) to tender their shares to the Offer, in the case of the latter. In addition, individual shareholders, including certain employees, have also undertaken to tender their shares to the Offer.

These transfers and contributions will be made at the Offer price. the Offer could be completed before the end of 2024.