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Just asking in advance, for potential special arrangement of odd lot trading (SPH REIT, Keppel REIT), which was mentioned before in SPH announcement, how much commission (in general) will the brokers charge?
I sold my 600k @ 1.58 when the counter crashed to a 1.52 low after announcing chopping off its news arm (bot @ 1.11).
I wished the stock well then and good luck to all who placed their faith in it. Just look how far it has come and much more to go. Congratulations to all who believe in the counter!
Btw, Rockerman, oranges (SPH) are indeed sweeter than apples (SCI), the counter has finally come full circle!
I wished the stock well then and good luck to all who placed their faith in it. Just look how far it has come and much more to go. Congratulations to all who believe in the counter!
Btw, Rockerman, oranges (SPH) are indeed sweeter than apples (SCI), the counter has finally come full circle!
The other parties are bigger and have deeper pockets - but I think they will not go much higher looking at their previous price.
pasttime ( Date: 10-Nov-2021 08:25) Posted:
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ha ha, will the other party raised it further
Keppel Corporation raised its offer to $2.351 per share after a rival offer of $2.10 per share made on Oct 28 by Cuscaden Peak.
LOL...SPH is worth at least 2.30 to 2.70 per share based on latest NAV, and the BOD has an obilgation to ensure that it acts in the benefit of its shareholders. They cannot let KEP get away with such a low offer.
Note that it has been 3 months since KEP made the first bid and SPH Reit' s value has increased significantly. Also SPH Reit Manager is not valued in the original offer which is worth at least 15 to 20 cents more. The way they have calculated NAV is misleading....
Either is ok w Kep ....as long as they dont go too high above 2.20 lol
FOr many .....Cuscoden offer is really good ? ( OBS so good mah ) ......PLEASE note ( for those who own BOTH SPH and SPH reit )
if they are sucessful in taking SPH ...the possible chain offer for SPH reit is only 0,964 ( know tradign 1.02 ....lol a discount )
Pls refer to SGX annoucment on this possible chain offer
HOnestly I wld maybe prefer Kep offer and hope they manage SPH and Kep Reit well , collect dividend and look forward to better prices
then let OBS earn .LOL
DYODD
FOr many .....Cuscoden offer is really good ? ( OBS so good mah ) ......PLEASE note ( for those who own BOTH SPH and SPH reit )
if they are sucessful in taking SPH ...the possible chain offer for SPH reit is only 0,964 ( know tradign 1.02 ....lol a discount )
Pls refer to SGX annoucment on this possible chain offer
HOnestly I wld maybe prefer Kep offer and hope they manage SPH and Kep Reit well , collect dividend and look forward to better prices
then let OBS earn .LOL
DYODD
Tanahkow ( Date: 01-Nov-2021 08:44) Posted:
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Contest for SPH good for minorities
I HAVE been saying Singapore Press Holdings (SPH) deserves a better offer than the S$2.099 cash-and-shares offer by Keppel Corp. Many small shareholders of SPH feel the same way.
Some are unhappy about having to take SPH Reit and Keppel Reit units in exchange for their SPH shares.
The new all-cash offer of S$2.10 from a consortium comprising billionaire Ong Beng Seng (OBS) and Temasek-linked entities is welcome as it takes away the uncertainty of fluctuating Reit prices. But it is still underpriced, considering the quality of SPH assets covering shopping malls, student accommodation and eldercare centres.
Keppel will enjoy a break fee of S$34 million if the SPH board now decides to go for the new all-cash S$2.10 offer.
But I think Keppel is unlikely to back off as the SPH assets are a good fit for the ambitious group.
So the broad spread of SPH shareholders can look to a better offer from Keppel. At the least, Keppel will offer a cash alternative of S$2.10. I think it is likely to go slightly higher.
The OBS-Temasek consortium may then also revise its bid. Will we see a bidding war? That' s unlikely as Temasek sits on both sides of the bidding activity. It will be a tussle among friendly parties.
In the final analysis, Keppel is likely to walk away with SPH under its wing, having paid somewhat more than S$2.10 per SPH share. Perhaps S$2.20. That would still be a sweet deal for Keppel.
SPH, SPH Reit jump on news of rival offer SPH ends above proposed S$2.10 price
SHARES of Singapore Press Holdings (SPH) SPH: T39 +6.53% ended Monday (Nov 1) at S$2.12, up 6.5 per cent or S$0.13 for the day and above the offer price of S$2.10 that has been proposed by consortium Cuscaden Peak. Units of SPH Real Estate Investment Trust (Reit) SPHREIT: SK6U +6.67% , meanwhile, ended at S$1.04, up 6.7 per cent or S$0.065.
SPH was the third most heavily traded counter on the Singapore Exchange by value.
Both counters had been halted on Friday (Oct 29), after a consortium of companies comprising Hotel Properties (HPL) and its managing director Ong Beng Seng, and 2 Temasek-linked entities, CLA Real Estate and Mapletree Investments, had launched a surprise rival proposal to privatise SPH at S$2.10 per share in cash.
Shortly after the resumption of trading on Monday, shares of SPH reached a high of S$2.14 at 9 am, up 7.5 per cent or S$0.15, while units of SPH Reit reached a high of S$1.06 at 9.07am, up 8.7 per cent or S$0.085.
No married deals were recorded for both counters, according to ShareInvestor data.
Cuscaden' s proposal, which is via a scheme of arrangement, still needs to be accepted by the board of SPH, which publishes The Business Times.
SPH already has an offer on the table from Keppel, at a slightly lower price of S$2.099 per share. This offer comprises cash of S$0.668 per share, 0.596 Keppel Reit unit (valued at S$0.715) and 0.782 SPH Reit unit (valued at S$0.716) per share.
SPH shareholders were expected to vote on the Keppel deal this year, and SPH' s share price had remained below the S$2.099 level this year.
Keppel' s deal with SPH includes the option for Keppel to make a cash offer if a competing offer emerges, and the market appears to be hoping Keppel will exercise this option.
In a research note on Friday, CGS-CIMB noted the completion of SPH' s media restructuring will likely attract more bidders for SPH' s property and investment businesses ahead.
The analyst team said Keppel will likely make a counter offer given existing synergy, but it does not expect Keppel will match Cuscaden' s 100 per cent cash offer given the former' s net gearing position of 0.76 as at September 2021.
If Keppel were to walk away from the deal, CGS-CIMB said potential beneficiaries might be unitholders of Keppel Reit. The latter has been weighed down by the expectation that the distribution of Keppel Reit units as part of the consideration in the SPH deal would create selling pressure on Keppel Reit.
At the same time, an abortion of the deal would mean there will be no increase in Keppel Reit' s free float to boost its trading liquidity. Keppel' s share price, meanwhile, could be negatively affected as its asset recycling strategy to reinvest into new growth areas could be stalled.
CGS-CIMB has encouraged SPH shareholders to hold on to the stock as it believes SPH' s board may evaluate the potential listing of its student accommodation unit, potential growth of its aged-care business, and value of its non-core assets.
Meanwhile, Macquarie Research expects Keppel will eventually be outbid if a bidding war emerges.
The analyst team said the market will likely opt for a full cash offer over a cash-plus-shares offer. While Keppel has the necessary cash, a full cash offer for SPH may impact its other capex plans. Raising debt for the full amount would push Keppel&rsquo s net gearing to over 1 time in the near term, which may make the market &ldquo wince at the idea&rdquo .
Macquarie expects CapitaLand Investment (CLI) CapitaLandInvest: 9CI +0.58% will be a beneficiary if the offer by Cuscaden goes through, as the former will see improved assets under management growth boosted by SPH' s assets, and synergies between CLI&rsquo s retail property management business and SPH&rsquo s retail assets. CLA Real Estate, one of the companies behind the consortium, is also a shareholder of CLI.
As for the chain offer for SPH Reit, Macquarie said it is likely just a regulatory requirement with no intention to privatise the Reit.
Instead, it may make better commercial sense to consolidate SPH Reit with entities within Cuscaden that have similar mandates - such as CapitaLand Integrated Commercial Trust and Mapletree Commercial Trust - the analyst team said.
This is a place where the owners raid it minority shareholders at its weakless moment.... Owner can even offer own listco as a third party wtf lol...
yup...this is a big fish makan small fish world...small retailers like those aunties uncles who bought above $3 cannot really do anything...that Hyflux is a painful lesson for many of them I think
So bidders must offer @$3? They are foxes, if they can get $2.1,$2.2 or $2.3, why should they offer $3 now?
Because uncles anuties they bought high? Of cause they can do so if they want to. This is the big fishes eat small fishes world.... those uncles aunties who bought hyflux most jialat but who compensate them?
Now the question is if KC up theirs offer using previous package method, will the share price go lower...
Because uncles anuties they bought high? Of cause they can do so if they want to. This is the big fishes eat small fishes world.... those uncles aunties who bought hyflux most jialat but who compensate them?
Now the question is if KC up theirs offer using previous package method, will the share price go lower...
whaler ( Date: 01-Nov-2021 14:54) Posted:
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many aunties uncles bought SPH well above $3
Lol.. people only up 1c and here comes the $3 valuation. Later KC counter 5c another will say min $4 😂 😂
easywin ( Date: 01-Nov-2021 09:25) Posted:
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Agree. If KC ups its offer price to $2.20, SPH will continue to soar.
The counters to go for are SPH, KC, Singtel and SCI
The counters to go for are SPH, KC, Singtel and SCI
wehuattogether88 ( Date: 01-Nov-2021 10:40) Posted:
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Yes, will be above the offer price of $2.10 until a new higher bid price appear within the next 10 days.
ckmpd1 ( Date: 01-Nov-2021 10:37) Posted:
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SPH is likely to trade between $2.10 to $2.15 till Kep Corp reveals whether it is upping its offer within the next 10days
Goldfinger ( Date: 01-Nov-2021 10:14) Posted:
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Agree.
Goldfinger ( Date: 01-Nov-2021 10:14) Posted:
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Market definitely expects a bidding war. The price has crossed the takeover price. Mr Market is not a fool. Haha.
ckmpd1 ( Date: 01-Nov-2021 09:25) Posted:
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NAV of SPH is S$2.20, that should be the fair value