Hot stock: HMI shares jump 9.1 per cent on privatisation offer

MON, JUL 08, 2019 - 10:41 AM

HEALTH Management International (HMI) shares jumped as high as 9.1 per cent on Monday morning, just over an hour after the market opened, on news of an offer by its management and private equity firm EQT to take the company private.

As at 10.12am, HMI shares were trading six Singapore cents higher at S$0.72. The counter last closed on July 4 at S$0.66, up 0.5 Singapore cent or 0.76 per cent. It called for a trading halt on July 5 before the market opened.

Maybank Kim Eng has since downgraded its rating for HMI from " buy" to " hold" , saying investors of HMI should take the S$0.73 offer price as the valuation " appears fair" and is a clean exit, according to its Monday report.

CGS-CIMB called the cash option " fair but not compelling" , deemed fair as it is on par with current valuations of Asean hospital operators. It did not change its &ldquo add&rdquo call and target price of S$0.68.

Meanwhile, UOB Kay Hian said PanAsia Health&rsquo s offer is a healthy one to accept, while viewing the alternative of holding private shares with the uncertainty of future re-listing to be " undesirable" .

HMI had announced on Friday a joint bid with PanAsia Health Limited to privatise by way of a scheme of arrangement that values HMI at approximately S$611 million. PanAsia Health Limited is a special-purpose vehicle incorporated in the Cayman Islands and indirectly controlled by EQT Mid Market Asia III GP BV (EQT GP).

If successful, HMI will become a wholly owned subsidiary of PanAsia Health and will be delisted from the Singapore Exchange.

Under the scheme, each HMI shareholder will be entitled to receive for each HMI share either S$0.73 in cash, or one new ordinary share at the same price in PanAsia Health.

The offer price represents significant premiums to the volume-weighted average price (VWAP) over the past few months. It is a premium of 29.7 per cent over the six-month VWAP, 27.4 per cent over the three-month VWAP and 24.8 per cent over the one-month VWAP.

HMI added that its closing share price has only exceeded the consideration offered by the scheme on one trading day since the company' s listing in 1999.

https://www.businesstimes.com.sg/companies-markets/hot-stock-hmi-shares-jump-91-per-cent-on-privatisation-offer

Hot stock: HMI shares jump 9.1 per cent on privatisation offer

MON, JUL 08, 2019 - 10:41 AM

HEALTH Management International (HMI) shares jumped as high as 9.1 per cent on Monday morning, just over an hour after the market opened, on news of an offer by its management and private equity firm EQT to take the company private.

As at 10.12am, HMI shares were trading six Singapore cents higher at S$0.72. The counter last closed on July 4 at S$0.66, up 0.5 Singapore cent or 0.76 per cent. It called for a trading halt on July 5 before the market opened.

Maybank Kim Eng has since downgraded its rating for HMI from " buy" to " hold" , saying investors of HMI should take the S$0.73 offer price as the valuation " appears fair" and is a clean exit, according to its Monday report.

CGS-CIMB called the cash option " fair but not compelling" , deemed fair as it is on par with current valuations of Asean hospital operators. It did not change its &ldquo add&rdquo call and target price of S$0.68.

Meanwhile, UOB Kay Hian said PanAsia Health&rsquo s offer is a healthy one to accept, while viewing the alternative of holding private shares with the uncertainty of future re-listing to be " undesirable" .

HMI had announced on Friday a joint bid with PanAsia Health Limited to privatise by way of a scheme of arrangement that values HMI at approximately S$611 million. PanAsia Health Limited is a special-purpose vehicle incorporated in the Cayman Islands and indirectly controlled by EQT Mid Market Asia III GP BV (EQT GP).

If successful, HMI will become a wholly owned subsidiary of PanAsia Health and will be delisted from the Singapore Exchange.

Under the scheme, each HMI shareholder will be entitled to receive for each HMI share either S$0.73 in cash, or one new ordinary share at the same price in PanAsia Health.

The offer price represents significant premiums to the volume-weighted average price (VWAP) over the past few months. It is a premium of 29.7 per cent over the six-month VWAP, 27.4 per cent over the three-month VWAP and 24.8 per cent over the one-month VWAP.

HMI added that its closing share price has only exceeded the consideration offered by the scheme on one trading day since the company' s listing in 1999.

https://www.businesstimes.com.sg/companies-markets/hot-stock-hmi-shares-jump-91-per-cent-on-privatisation-offer

on w5 tgt 710 to 730
- up 50%/61.8% of 190
- delta 95 to 115
- px mv 615->670->645-?
- px cannot break 635 then w5 continues

All dead listed coys here can privatise n dismantle the whole bourse. What kind of financial hub are we?

bishan22 ( Date: 08-Jul-2019 07:44) Posted:

Privatise...

Today up 2 cents, now 62.5 cents 😀 😀 😀

Results just out. Not bad. Dividend 1 myr cent.

Now slowly up. 58 cents

Now start to inch up again. But volume was Low.

Secret_Squirrel ( Date: 28-Aug-2018 17:41) Posted:

Price drop after results are out yesterday.

canalrat ( Date: 28-Aug-2018 09:05) Posted:

HMI increases net profit to a record RM60.6 million for FY2018

&bull Revenue rises 7.3% yoy to RM467.6 million driven by rising patient loads and average bill sizes across the Group&rsquo s two hospitals
&bull EBITDA increases 19.1% yoy to RM115.1 million while EBITDA margin expands 2.4 percentage points due to higher revenue intensity and effective cost management
&bull Board of Directors recommends a final dividend of RM1.0 cents per share, bringing total dividends to RM2.0 cents per share for FY2018 (FY2017: RM1.0 cents)

Price drop after results are out yesterday.

canalrat ( Date: 28-Aug-2018 09:05) Posted:

HMI increases net profit to a record RM60.6 million for FY2018

&bull Revenue rises 7.3% yoy to RM467.6 million driven by rising patient loads and average bill sizes across the Group&rsquo s two hospitals
&bull EBITDA increases 19.1% yoy to RM115.1 million while EBITDA margin expands 2.4 percentage points due to higher revenue intensity and effective cost management
&bull Board of Directors recommends a final dividend of RM1.0 cents per share, bringing total dividends to RM2.0 cents per share for FY2018 (FY2017: RM1.0 cents)

HMI increases net profit to a record RM60.6 million for FY2018

&bull Revenue rises 7.3% yoy to RM467.6 million driven by rising patient loads and average bill sizes across the Group&rsquo s two hospitals
&bull EBITDA increases 19.1% yoy to RM115.1 million while EBITDA margin expands 2.4 percentage points due to higher revenue intensity and effective cost management
&bull Board of Directors recommends a final dividend of RM1.0 cents per share, bringing total dividends to RM2.0 cents per share for FY2018 (FY2017: RM1.0 cents)

The buyers seems like serious buyers as they bought shares in thousand or more than 10 thousand shares per transaction instead of one or two hundred shares per transaction.

Up 3cents to 62. Hopefully can sustain until next week.

Secret_Squirrel ( Date: 21-Aug-2018 16:43) Posted:

Looks like it will end at 59.5 today. If it hits 60 at end of the day, it would be likely with 100 shares last done

canalrat ( Date: 21-Aug-2018 16:00) Posted:

My guess it's due to FY results coming up next week, was just announced yesterday evening

Looks like it will end at 59.5 today. If it hits 60 at end of the day, it would be likely with 100 shares last done

canalrat ( Date: 21-Aug-2018 16:00) Posted:

My guess it's due to FY results coming up next week, was just announced yesterday evening.

sharenoob1984 ( Date: 21-Aug-2018 15:17) Posted:

why is the vol so high today? any good reasons?

My guess it's due to FY results coming up next week, was just announced yesterday evening.

sharenoob1984 ( Date: 21-Aug-2018 15:17) Posted:

why is the vol so high today? any good reasons?

Seems that volume is starting to pick up

sharenoob1984 ( Date: 21-Aug-2018 15:02) Posted:

lizard here :) saw it hit 0.60

Yes. I sold off 0.59

Secret_Squirrel ( Date: 21-Aug-2018 13:28) Posted:

If can hit 59.5 today will be very good. 60will be a bit difficult

Sgvale ( Date: 20-Aug-2018 15:43) Posted:

Today 0.60. Once a daring

If can hit 59.5 today will be very good. 60will be a bit difficult

Sgvale ( Date: 20-Aug-2018 15:43) Posted:

Today 0.60. Once a daring

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Hot stock: HMI shares jump 9.1 per cent on privatisation offer

Hot stock: HMI shares jump 9.1 per cent on privatisation offer