Totally caught by surprise but not a bad outcome for me. The offer of $2.22 is conditional upon getting 90% acceptance less $0.0175 dividend.
Just when the malls are getting matured.....another example of misalignment of interests when substantial shareholders make
an Offer..
(14-04-2014, 03:05 PM)opmi Wrote: [ -> ]Just when the malls are getting matured.....another example of misalignment of interests when substantial shareholders make
an Offer..
nth much we can do abt that though.
My wife and i have been allotted one lot each since IPO. What's the IPO price again?
(14-04-2014, 03:05 PM)opmi Wrote: [ -> ]Just when the malls are getting matured.....another example of misalignment of interests when substantial shareholders make
an Offer..
To be fair, the market has hardly accorded CMA fair valuation since IPO.
(14-04-2014, 04:05 PM)egghead Wrote: [ -> ] (14-04-2014, 03:05 PM)opmi Wrote: [ -> ]Just when the malls are getting matured.....another example of misalignment of interests when substantial shareholders make
an Offer..
To be fair, the market has hardly accorded CMA fair valuation since IPO.
I disagree.
what the value Mr Market give to CMA has nothing to do with its instrinsic value.
CMA can wait for the malls to mature and divest them to its REITs AND share the fruits with ALL shareholders.
(14-04-2014, 04:05 PM)egghead Wrote: [ -> ] (14-04-2014, 03:05 PM)opmi Wrote: [ -> ]Just when the malls are getting matured.....another example of misalignment of interests when substantial shareholders make
an Offer..
To be fair, the market has hardly accorded CMA fair valuation since IPO.
Ya lol! i have been wondering why too. Now Capitaland takes action then what?
I understand your point. I would have preferred to see value being realized like you suggested over time - that was why I keep CMA until now; but considering the interest rate environment and the need for REITs to make DPU accretive acquisition, I don't see that happening anytime soon.
(14-04-2014, 04:22 PM)egghead Wrote: [ -> ]I understand your point. I would have preferred to see value being realized like you suggested over time - that was why I keep CMA until now; but considering the interest rate environment and the need for REITs to make DPU accretive acquisition, I don't see that happening anytime soon.
CAPL own REITS is one of many potential buyers. e.g. SWFs, and insurance funds and pension funds dont need financing and dont have to make accretive acqs..
Watch out what CAPL will do with CMA assets in 2 years time...