Roadside sources indicated that Thai Bev may be distributing all its holdings in FCL back to its own shareholders when final results are released tomorrow.
This has been an aged touted corporate move for Thai Bev to refocus on its core business given that Thai Bev inherited FCL via F&N restructuring to focus on core in late 2013.
Should the rumour materialise, it appears that Towkay is refocusing on his value abstraction moves from his existing stable of companies following the failed tilt on UE to further expand his pipeline of real estate assets at acceptable prices.
For FCL, such a distribution will put the big cap property conglomerate back on the radar of many insti funds that are constrained by FCL's limited free float presently since its introduction back on SGX slightly over a year ago.
With Kep Land to be delisted, such a move will be an excellent timing for FCL to potentially replace Kep Land in major indices.
Vested
(25-02-2015, 11:25 AM)greengiraffe Wrote: [ -> ]Roadside sources indicated that Thai Bev may be distributing all its holdings in FCL back to its own shareholders when final results are released tomorrow.
This has been an aged touted corporate move for Thai Bev to refocus on its core business given that Thai Bev inherited FCL via F&N restructuring to focus on core in late 2013.
Should the rumour materialise, it appears that Towkay is refocusing on his value abstraction moves from his existing stable of companies following the failed tilt on UE to further expand his pipeline of real estate assets at acceptable prices.
For FCL, such a distribution will put the big cap property conglomerate back on the radar of many insti funds that are constrained by FCL's limited free float presently since its introduction back on SGX slightly over a year ago.
With Kep Land to be delisted, such a move will be an excellent timing for FCL to potentially replace Kep Land in major indices.
Vested
If it is true, it might trigger a fire-sale of FCL shares, by Thai Bev shareholders.
(not vested)
They also own 40%+ of ThaiBev, so I guess the free float will only increase by ~10%.
You are correct. Roadside source analysis indicated that free float will be raised to 22% should their prediction comes true.
Roadside source has a conviction BUY with a target price of $2.25 on fcl after earnings uplift by incorporating ALZ forecasts.
My personal take on this is that such an exercise is just a 1st step to lift institutional interests in FCL. It could be prelude for Towkay to further dilute should there be further appetite for FCL shares at a price that is acceptable to him.
In the meantime, FCL is in a strong position to pursue its balance growth strategy that is complement by its established REIT platform. Not much different to Capland in the early 2000s when its suite of REITs are floated.
However, with the hindsight of Capland's experience, it is likely that Towkay will continue to be on the prowl for quality assets at acceptable prices to him so that FCL can suatain the pipeline for asset recycling...
Let the new drama serial begin...
Vested
(25-02-2015, 12:20 PM)piggo Wrote: [ -> ]They also own 40%+ of ThaiBev, so I guess the free float will only increase by ~10%.
This is not new. We have been talking about this final chapter for almost 2 years
but I thought they would actually swap FCL and FNN shares
Let's see Towkay's cards
(26-02-2015, 12:18 AM)specuvestor Wrote: [ -> ]This is not new. We have been talking about this final chapter for almost 2 years but I thought they would actually swap FCL and FNN shares
Let's see Towkay's cards
Yes, interesting to watch, and may be beneficial depend on the Towkay's card(s)...
(not vested, but watching closely)
Nothing yet. Only this statement. What does it mean?
Vested in both FCL and FNN.
Quote:Schedule for Announcement of the 2014 Operating Results and Financial Statements ended December 31, 2014 of Oishi Group Public Company Limited, a Direct Subsidiary of Thai Beverage Public Company Limited
We, Thai Beverage Public Company Limited (THBEV), were informed by Oishi Group Public Company Limited (Oishi) that the Board of Directors of Oishi organized a meeting today to consider and approve, among other matters, the 2014 operating results and the financial statements ended December 31, 2014.
The information will be available on the website of the Stock Exchange of Thailand (SET) (http://www.set.or.th) once the upload by Oishi via SET website is completed.
Please note that Oishi is a direct subsidiary of THBEV whereby THBEV holds 79.66% of the total Oishi issued and sold shares.
Please be informed accordingly.
Hey! I am back! Seems like an interesting speculation is going on here! If Thai Bev would like to unload shares, what is the possible way the company is going to do it? Hopefully, the share price will hit beyond 2 this time round! I feel that given the scale of asset and development FCL has, the current share price is undervalued! The moment its billion $$ debt is cleared, FCL can heave a sign of relief! Hope that something is really brewing and would not turn out to be red herring.
VESTED INDEFINITELY