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22-05-2024, 09:21 AM
https://www.change.org/p/upholding-fairn...eral-offer
I am a longstanding shareholder of Great Eastern Holdings (GEH) and also a supporter in the minority investor group led by Mr Ong Chin Woo.
I feel compelled to address the recent unconditional offer made by OCBC, the majority shareholder holding 88.4% of GEH, at $25.60 per share for the remaining stake it does not own.
It is disheartening to note that this offer stands at a considerable discount from GEH's embedded value (EV) of $36.59 as of December 31, 2023. Such a significant deviation raises concerns among shareholders, particularly considering OCBC's established reputation for fairness and its integral role in Singapore's financial sector.
Reflecting on history, OCBC's previous offers in 2004 and 2006, standing at 1.3x and 1.5x EV respectively, showcased a commitment to equitable valuations. Therefore, the current offer of 0.7x EV appears perplexing and inconsistent with past practices.
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An action taken by a longstanding shareholder to push for a higher offer price. If you support his stance, you can 'sign' the petition on the right of the webpage
https://www.change.org/p/upholding-fairn...eral-offer
I am a longstanding shareholder of Great Eastern Holdings (GEH) and also a supporter in the minority investor group led by Mr Ong Chin Woo.
I feel compelled to address the recent unconditional offer made by OCBC, the majority shareholder holding 88.4% of GEH, at $25.60 per share for the remaining stake it does not own.
It is disheartening to note that this offer stands at a considerable discount from GEH's embedded value (EV) of $36.59 as of December 31, 2023. Such a significant deviation raises concerns among shareholders, particularly considering OCBC's established reputation for fairness and its integral role in Singapore's financial sector.
Reflecting on history, OCBC's previous offers in 2004 and 2006, standing at 1.3x and 1.5x EV respectively, showcased a commitment to equitable valuations. Therefore, the current offer of 0.7x EV appears perplexing and inconsistent with past practices.
------
An action taken by a longstanding shareholder to push for a higher offer price. If you support his stance, you can 'sign' the petition on the right of the webpage
https://www.change.org/p/upholding-fairn...eral-offer