B******* CHENG FELLOW TRYING TO SCREW ALL SHAREHOLDERS BY ACQUIRING 51% OF THE COMPANY SHARES ON THE CHEAP! WTF!!!!!
Ascend Capital Offers S$1.39 a Share for Wing Tai Stake
2012-05-10 03:25:11.462 GMT
By Sean Collins
May 10 (Bloomberg) -- Ascend Capital is making a partial
offer for Wing Tai at s$1.39 a share, according to a statement
to the Singapore stock exchange.
* Ascend Capital offer for 68.1m shares
* Offer not a privatization exercise and SGX listing to be
maintained
* DBS Bank appointed financial adviser to offeror for partial
offer
I will sell if it is >1.40 when resume...
Estimated opening price is in the region of $1.275 currently. I will reject the offer. The offer price is way too low in my opinion. Well, let's see what the appointed financial adviser says.
(10-05-2012, 12:10 PM)propertyinvestor Wrote: [ -> ]B******* CHENG FELLOW TRYING TO SCREW ALL SHAREHOLDERS BY ACQUIRING 51% OF THE COMPANY SHARES ON THE CHEAP! WTF!!!!!
that cheng guy may be a b**t**d if he's trying to rob us.
However, if we think positively, maybe it is a very smart way to tell all other investors that "look, i think 1.18 is ridiculously undervalued, even at 1.39, it is still undervalued, but if you think otherwise, you can always tender your shares to me at 1.39, i will be willing to accept it."
It is a much more efficient way than doing share buyback on the open market. I wont sell any of my shares at 1.39 though. if around 1.60, i will be more open to the idea
Given the offer price, my opinion is that not many shareowners will be willing to bite especially since there is no intention to seek delisting.
What does partial offer to minority shareholders means?
Thanks!
I'm curious about the intention. What is it that Cheng WK cannot do now with Wing Tai that makes him want to do this partial offer.
(10-05-2012, 01:52 PM)old friend Wrote: [ -> ]What does partial offer to minority shareholders means?
Thanks!
It should mean than the boss is willing to pay $1.39 for each share you own, up to 15% of your holdings. Eg. if you have 100 lots, he will buy 15 lots from you for 15 x $1390. It is still subjected to approval though
(10-05-2012, 01:52 PM)old friend Wrote: [ -> ]What does partial offer to minority shareholders means?
Thanks!
If you have 10000 shares, you are given a offer to sell 1500 shares at $1.39 to the offerer.
You will keep the rest of the 8500 shares.