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Yes, you are correct, if Kep Corp just push up say Kep Reit or SPH reit prices .....the offer will auto goes up ( say 2.15)
In this case, it will be much higher then cash offer of 2.10 ....Kep dont even need to counter another offer
Dyodd
In this case, it will be much higher then cash offer of 2.10 ....Kep dont even need to counter another offer
Dyodd
investshare ( Date: 05-Nov-2021 11:48) Posted:
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Very strong short convering. Maybe an improve offer is coming.
looking at the price of SPH at 2.15-2.16, Believed the bidding war is going to start anytime soon.
If reit is higher price now, isn?t Keppel offer automatically higher since a portion of offer is in the reit share?
ysh2006 ( Date: 05-Nov-2021 11:31) Posted:
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By Nov 15 morning, Keppel need to make a revise offer ? judging from the market movement it is expecting Keppel will make min 5c adjustment since it Reit is trading above 96c...
Oh, it is 10 biz days. Thanks.
rlong8288 ( Date: 05-Nov-2021 10:04) Posted:
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15
investshare ( Date: 05-Nov-2021 10:02) Posted:
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When is the 10th day expire?
Shareholders concerned that SPH still undervalued, says Sias
SINGAPORE Press Holdings' (SPH) shareholders have voiced concerns that current offers on the table still undervalue the company, the Securities Investors Association (Singapore) (Sias) said in a statement on Tuesday (Nov 2).
This comes following a surprise all-cash offer from consortium vehicle Cuscaden Peak on Friday (Oct 29) to take SPH private.
The consortium comprising Hotel Properties, businessman Ong Beng Seng, and two Temasek-linked entities, CLA and Mapletree, had proposed to acquire SPH at S$2.10 per share in cash.
Some shareholders have approached Sias to express concerns that the offers are currently below net asset value (NAV) they also question whether SPH SPH: T39 +0.47% should " carry on its business on its own" , given that the media business has been hived off.
SPH had a NAV of S$2.26 per share as at end-August this year before the media restructuring was completed. After taking into account the media restructuring cost, the NAV per share as at Aug 31, 2021 was S$2.18 and the dividend-adjusted NAV is S$2.15.
SPH' s NAV took a hit in FY2020 due to a reduction in valuation of its investment properties as a result of the Covid-19 pandemic. Investment properties incurred a fair-value loss of S$232 million in FY2020, largely from a reduction in the valuation of retail malls and student accommodation.
Shareholders also said that SPH should be " valued accordingly" as it is now a property holding company, Sias said.
" SPH is a prized entity, they feel, and the board should do its utmost to ensure that there are, in fact, no other potential bidders," it added.
Sias intends to meet with the senior management of SPH at an appropriate time to discuss the concerns of shareholders. It would subsequently hold dialogues to help shareholders better understand the offer chosen by the board and for them to make an informed decision.
Sias said it believes that the board will consider the offers and decide on what is in the best interest of its stakeholders. The board will also need to evaluate the offers and advise its shareholders on the merits.
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.
Keppel has an opportunity, within 10 business days of Cuscaden' s offer, or up until Nov 15, to respond with an " improved proposal" , SPH said in an Oct 29 announcement.
Will SPH stay listed after the sale? If so, I will also reject the offer.
So we are not the only people who feel cheated by lowball takeover prices....
Shareholders concerned that SPH still undervalued, says Sias, Companies & Markets - THE BUSINESS TIMES
Shareholders concerned that SPH still undervalued, says Sias, Companies & Markets - THE BUSINESS TIMES
Why are they needing to rush this sale, when asset prices in Singapore are still relatively depressed during this COVID pandemic? I am pretty sure the value of the assets will rise even more during the next few years, and when the Woodleigh Residences are completed, the Paragon Mall gets back into swing with the return of tourists etc. Am going to reject with all my shares, as will my family. Not impressed and now even more suspicious given the emergence of a 2nd Major bidder, that could have been there all along for all we know.
Only a stupid fool would fall for this, and I am not foolish or senile yet.
Only a stupid fool would fall for this, and I am not foolish or senile yet.
Shareking11 ( Date: 02-Nov-2021 10:15) Posted:
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in this corporate jungle TRUST no one except yourself.
In SPH the managers and directors are parachuted in. Also a buddy buddy club!
In SPH the managers and directors are parachuted in. Also a buddy buddy club!
tonylim ( Date: 02-Nov-2021 10:51) Posted:
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Independent advisors are paid to deceive shareholders to accept at ridiculously low price. Moreover giving odd lots are not to our favour. Must be cash offer above $2.50
investshare ( Date: 02-Nov-2021 10:45) Posted:
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Should hire 3rd party to conduct tender. The Board already proven wrong when they said Keppel offer is the best.
Shareking11 ( Date: 02-Nov-2021 10:15) Posted:
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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....
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....
I am surprise it hit 213 so fast.
Let a 3rd party conduct an open tender!
I would like to request the Board to relinquish its role to a independent 3rd party to conduct a tender bid instead.
The fact that the Board has advised KC that offer is the Best is already proven wrong. This show there is blind spot in the Board. Thus better engage 3rd party to conduct tender.
The fact that the Board has advised KC that offer is the Best is already proven wrong. This show there is blind spot in the Board. Thus better engage 3rd party to conduct tender.
Goldfinger ( Date: 29-Oct-2021 12:38) Posted:
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Trading halt lifted on Monday, 1 Nov, morning.
SPH is likely to soar
SPH is likely to soar