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Lian Beng
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ahberngh
Master |
05-Jul-2023 11:20
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Bravo SGX, another one bites the dust. Major shareholders laughing all the way to the bank.
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Joelton
Supreme |
05-Jul-2023 11:02
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Lian Beng loses free float, Ong family to compulsory acquire remaining shares
The Ong family trying to privatise Lian Beng Group L03 0.00% has secured 90.14% of the shares as of July 4.
With free float now below 10%, the Ongs are now entitled to exercise their right to compulsory acquire the remaining shares and will do so.
The closing date of the privatisation offer, at 68 cents per share, has earlier been extended to July 7 from June 30.
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jm2212
Veteran |
30-Jun-2023 22:58
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Extend by another week without raising the offer price, wonder who are the big sellers these 2 days? How come agx allows company to continue to extend cut off date? | ||||
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ahberngh
Master |
28-Jun-2023 21:40
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Possible. I recall in the case of Chip Eng Seng, was extended twice. I am not vested in Lian Beng but I was holding 85 lots of Chip Eng Seng at that time. I did not want to sell because Chip Eng Seng was worth more than the 75c they were offering. But after the second extension, they obtained 90% and I was compulsorily required to sell to them. Not a good way to end several years of investment hoping to make a bigger profit. As a longer term investor, one locate a good company and buy in, hoping to hold for some time and grow with the company. We ride out the bad times, keeping faith with the company but then the company turns around and screw you just when it looks like times are getting better. Not a good feeling. But then, the general opinion is that SGX is no longer a place to invest, only to speculate and do short term and contra trading.
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ysh2006
Supreme |
28-Jun-2023 20:48
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Aiya 87% only....last day Friday ?
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ysh2006
Supreme |
28-Jun-2023 20:44
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If cannot get 90% will they extend the date line again ?
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ahberngh
Master |
28-Jun-2023 17:11
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Low ball offers most of the time successful. Local retailers don' t care, let them eat, move on, they say. More low ball coming, next one probably Cordlife. There are many candidates, all hughly undervalued. Bravo SGX. |
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jm2212
Veteran |
28-Jun-2023 16:47
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Jiatlat, today suddenly got so high selling to LB, this will allow them to get the required % | ||||
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ysh2006
Supreme |
11-Jun-2023 05:22
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They can ask Sgx for a waver to delist and become private company with the remaining 17% SH behind them. | ||||
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ysh2006
Supreme |
10-Jun-2023 19:36
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Now only 82% market not interested extend two weeks also like this....come again next yr with a higher price... | ||||
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ysh2006
Supreme |
09-Jun-2023 22:19
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If cannot get 90% will it say don't want take over and return those shares to us ? Last time they did one time ...
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ahberngh
Master |
09-Jun-2023 19:09
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Following the same pattern as the others. First low ball offer, not likely to be successful. Then up offer by about 5c. Wait for time to expire. Then extend. If still cannot get 90%, extend another time. Usually by the second extension it will be successful. So goes our world class bourse. This one, heng, I am not invested. I have a feeling it will be successful, lass I checked (2 days ago, they already has more than 82%). Our retail minorities are easy meat.
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jm2212
Veteran |
09-Jun-2023 17:58
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Extend to 30th Jun. Don't sell and force them to raise price | ||||
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jm2212
Veteran |
08-Jun-2023 10:59
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Will adjust up to at least 72c | ||||
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jm2212
Veteran |
08-Jun-2023 09:28
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Company is desperate, cannot get enough. Just bought from seller at 69.5 | ||||
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lifeisgood
Supreme |
26-May-2023 20:39
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Sgx and mas should make low ball offers a criminal offense.
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jm2212
Veteran |
26-May-2023 18:11
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All cooperate and hold tight tight, lock the share inside the drawer, force them to raise the price
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moonsun
Senior |
26-May-2023 16:58
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Future acquisition gonna be more difficult thus they make the lowball offer? dyodd if you can hold for better or sell if you need $$$ | ||||
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sansgp
Member |
26-May-2023 15:54
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Latest: EXTENSION OF CLOSING DATE: UOB wishes to announce, for and on behalf of the Offeror, that the closing date of the Offer is extended from 5.30 p.m. (Singapore time) on 26 May 2023 to 5.30 p.m. (Singapore time) on 9 June 2023, i.e. for another two more weeks. ================================================================================= As at 6.00 p.m. (Singapore time) on 25 May 2023, the total number of (a) Shares owned, controlled or agreed to be acquired by the Offeror and the Offeror&rsquo s Concert Parties and (b) valid acceptances of the Offer, amount to an aggregate of 405,276,076 Shares, representing approximately 81.11% of the total number of issued Shares. At the start of offer on 3 May 2023, the total number of (a) Shares owned, controlled or agreed to be acquired by the Offeror and the Offeror&rsquo s Concert Parties and (b) valid acceptances of the Offer, amount to an aggregate of 351,773,846 Shares, representing approximately 70.40% of the total number of issued Shares. As it stands today, Offeror gathered 11.1% of acceptances over the last 23 days but still needs 8.89% to hit the 90 per cent acceptance threshold to forcefully acquire the rest of the company. This reminds me of a similar exercise that gotten 3rd time lucky. CK Tang offered 42 cts in Oct 2003, 2nd attempt was @ 65 cts in Dec 2006 and last successful offer was @ 83 cts in May 2009. The company valuation at that time was $ 1.05 as of Dec 2008. At that time also, the economy wasn' t in good shape (sub prime, remember?) yet minority shareholders gotten better offer eventually.. Not suggesting anything but Moral of the story, patience pays! Hope this helps. DYOD.
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jm2212
Veteran |
18-May-2023 11:54
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Compared to past few days, there are mostly buy up at 68.5c today. | ||||
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