The Grand Court in the Cayman Islands has delivered its judgment in the fair value appraisal of 58.com.
In the matter of 58.com, Inc [2026] CIGC (FSD) 31 is the latest Grand Court judgment in a series of multi-billion dollar disputes between companies that have been through a merger process (normally a take-private) and professional appraisal arbitrageurs (Dissenters).
In 58.com, the Grand Court (Chief Justice Ramsay-Hale) determined that the merger price of $56 per ADS represented fair value, significantly below the $105.56 that was argued for by the Dissenters.
This was at the time the biggest ever take-private of a Chinese company. It was also one of the longest-running and most hard fought s.238 disputes, with many interlocutory battles and a 26-day trial interrupted by a hurricane and illness.
Richard Boulton KC acted for 58.com, alongside Mac Imrie KC, instructed by Caroline Moran and Malachi Sweetman and the litigation team at Maples and Calder (Cayman) LLP.
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