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I wonder will it mean that HNE and CXP will also retain cash and reduce their distributions to fetch a better price ? Any ideas ?

(Not Vested)

On the other hand, the NAV for Mgt to get their fat divestment bonus is 60.5cents. Mr Market has been valuing it slightly above this rate recently - Does it anticipate a 'better than NAV' valuation for APPT IPO?

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(01-05-2013, 07:48 PM)Nick Wrote: [ -> ]I wonder will it mean that HNE and CXP will also retain cash and reduce their distributions to fetch a better price ? Any ideas ?

(Not Vested)

For CXP, i dont think Pan United will agree (unless they are buying it)
For HNE, i anticipate it will do so (retain cash) since it has majority control. Even after cutting dividends by 50%, ~15mil should still be accrued to the books for their bonus.

MIIF announced that it will suspend its shares before the start of trading on 7th May, for a period of 8 days. Trading is expected to resume on the start of trading on 17th May.

http://info.sgx.com/webcoranncatth.nsf/V...20081DF28/$file/MIIFSuspend060513.pdf?openelement

MIIF is currently trading at 63cents with over 20mil shares volume, +2.5cents above Mgt's valuation to get its fat 15mil bonus. Are punters pricing in a strong demand or higher valuation for APPT IPO?

Quote:From MIIF:
APTT OFFERING PRICE AND MIIF APTT UNITS
In addition, MIIF notes that the APTT Offering Price has been fixed at S$0.97 per Unit (the “Offering Price”). Based on the Offering Price and estimated transaction costs, the consideration payable to MIIF for the Proposed Divestment will be S$510.1 million. As a result, MIIF has fixed the number of MIIF APTT Units for distribution to Shareholders at 525,866,849.

So after fees, etc... how much will the cash per unit? Can anyone give an estimation?
Vested.

(17-05-2013, 09:47 AM)Temperament Wrote: [ -> ]

Quote:From MIIF:
APTT OFFERING PRICE AND MIIF APTT UNITS
In addition, MIIF notes that the APTT Offering Price has been fixed at S$0.97 per Unit (the “Offering Price”). Based on the Offering Price and estimated transaction costs, the consideration payable to MIIF for the Proposed Divestment will be S$510.1 million. As a result, MIIF has fixed the number of MIIF APTT Units for distribution to Shareholders at 525,866,849.

So after fees, etc... how much will the cash per unit? Can anyone give an estimation?
Vested.

42.5-44c/share

(17-05-2013, 04:32 PM)propertyinvestor Wrote: [ -> ]

(17-05-2013, 09:47 AM)Temperament Wrote: [ -> ]

Quote:From MIIF:
APTT OFFERING PRICE AND MIIF APTT UNITS
In addition, MIIF notes that the APTT Offering Price has been fixed at S$0.97 per Unit (the “Offering Price”). Based on the Offering Price and estimated transaction costs, the consideration payable to MIIF for the Proposed Divestment will be S$510.1 million. As a result, MIIF has fixed the number of MIIF APTT Units for distribution to Shareholders at 525,866,849.

So after fees, etc... how much will the cash per unit? Can anyone give an estimation?
Vested.

42.5-44c/share

$0.44329, see SGX Annc pg3

(17-05-2013, 04:56 PM)KopiKat Wrote: [ -> ]

(17-05-2013, 04:32 PM)propertyinvestor Wrote: [ -> ]

(17-05-2013, 09:47 AM)Temperament Wrote: [ -> ]

Quote:From MIIF:
APTT OFFERING PRICE AND MIIF APTT UNITS
In addition, MIIF notes that the APTT Offering Price has been fixed at S$0.97 per Unit (the “Offering Price”). Based on the Offering Price and estimated transaction costs, the consideration payable to MIIF for the Proposed Divestment will be S$510.1 million. As a result, MIIF has fixed the number of MIIF APTT Units for distribution to Shareholders at 525,866,849.

So after fees, etc... how much will the cash per unit? Can anyone give an estimation?
Vested.

42.5-44c/share

$0.44329, see SGX Annc pg3

Thanks. But that is only an example which i had read. Actual still akan datang?

(17-05-2013, 09:47 AM)Temperament Wrote: [ -> ]

Quote:From MIIF:
APTT OFFERING PRICE AND MIIF APTT UNITS
In addition, MIIF notes that the APTT Offering Price has been fixed at S$0.97 per Unit (the “Offering Price”). Based on the Offering Price and estimated transaction costs, the consideration payable to MIIF for the Proposed Divestment will be S$510.1 million. As a result, MIIF has fixed the number of MIIF APTT Units for distribution to Shareholders at 525,866,849.

So after fees, etc... how much will the cash per unit? Can anyone give an estimation?
Vested.

The document suggests that shareholder who opted for cash will get 443.29sgd/1000 shares AFTER fees.

Quote:As the actual transaction costs will only be determined on or close to the Listing Date, should the cash equivalent of the MIIF APTT Units be less than the actual MIIF Consideration payable on the actual listing date, the difference will be payable to MIIF in cash, which will in turn be distributed to Shareholders.

In addition, from the above statement, it seems like if more shareholders take up the APTT units, then actual transaction costs will be lower. There may be additional cash payout after book close and 443.29sgd/1000 shares is the minimum. So did Mgt calculate 510mil based on full cash election from all shareholders?

Anyone who went for free dinner today with SIAS and MIIF, can help to clarify this?

http://info.sgx.com/webcoranncatth.nsf/V...A00356D05/$file/MIIFAPTTListing.pdf?openelement

Those who elected cash will get a further 1.04 cents dividend.

(29-05-2013, 05:49 PM)Nick Wrote: [ -> ]http://info.sgx.com/webcoranncatth.nsf/V...A00356D05/$file/MIIFAPTTListing.pdf?openelement

Those who elected cash will get a further 1.04 cents dividend.

I think the additional cash is for all MIIF shareholders and not just those who elect for cash. The determination is as at the Record Date of 9 May 2013. The cash election deadline is 21 May 2013. So there's a mismatch there.