Quote:According to this announcement, Ho Bee bought 2.4 mil shares @ 35.5 cents from the market last Thursday.
TeckWah got so much volume in one day?
The SGX announcement does not say when the transaction or transactions were carried out. Perhaps it could have been carried out over a few days, but reported only later? SGX historical market data and Yahoo! Finance both show only a volume of 326,000 shares traded on 30 May 13.
Quote:According to this announcement, Ho Bee bought 2.4 mil shares @ 35.5 cents from the market last Thursday.
TeckWah got so much volume in one day?
The SGX announcement does not say when the transaction or transactions were carried out. Perhaps it could have been carried out over a few days, but reported only later? SGX historical market data and Yahoo! Finance both show only a volume of 326,000 shares traded on 30 May 13.
More like need a month to accumulate that amount of shares at that price... Can drag so long before announcing change in substantial shareholder's interest?
I might be wrong - but I thought SSH only needed to report a change in their shareholdings when it amounts to 1% so if took 1 month to acquire sufficient shares to cross the 1% mark, the announcement will only be released at that point. Perhaps fellow buddies can verify this !
(Not Vested)
Disclaimer: Please feel free to correct any error in my post. I am not liable for anything. Do your own research and analysis. I do NOT give buy or sell calls and stock tips. Buy and sell at your risk. I am not a qualified financial adviser so I do not give any advice. The postings reflects my own personal thoughts which may or may not be accurate.
(03-06-2013, 11:03 PM)Nick Wrote: I might be wrong - but I thought SSH only needed to report a change in their shareholdings when it amounts to 1% so if took 1 month to acquire sufficient shares to cross the 1% mark, the announcement will only be released at that point. Perhaps fellow buddies can verify this !
Companies Act Wrote:83.—(1) Where there is a change in the percentage level of the interest or interests of a substantial shareholder in a company in voting shares in the company, the substantial shareholder shall give notice in writing to the company stating the information specified in subsection (2) within 2 business days after he becomes aware of such a change.
...
(3) In subsection (1), “percentage level”, in relation to a substantial shareholder, means the percentage figure ascertained by expressing the total votes attached to all the voting shares in which the substantial shareholder has an interest or interests immediately before or (as the case may be) immediately after the relevant time as a percentage of the total votes attached to —
(a) all the voting shares in the company; or
(b) where the share capital of the company is divided into 2 or more classes of shares, all the voting shares included in the class concerned,
and, if it is not a whole number, rounding that figure down to the next whole number.
I don't think the buyer is the listed Ho Bee Group. Instead, it is the investment holding company majority owned by Ho Bee chief and it is called Ho Bee Holdings which also owns 70% stake in Ho Bee Group. In other words, the 14% stake in TW is a private investment from Ho Bee chief (and the Holding Company fellow investors) and not the listed Group. Please correct me if I am wrong.
(Not Vested in either)
Disclaimer: Please feel free to correct any error in my post. I am not liable for anything. Do your own research and analysis. I do NOT give buy or sell calls and stock tips. Buy and sell at your risk. I am not a qualified financial adviser so I do not give any advice. The postings reflects my own personal thoughts which may or may not be accurate.
(04-06-2013, 10:57 PM)Nick Wrote: I don't think the buyer is the listed Ho Bee Group. Instead, it is the investment holding company majority owned by Ho Bee chief and it is called Ho Bee Holdings which also owns 70% stake in Ho Bee Group. In other words, the 14% stake in TW is a private investment from Ho Bee chief (and the Holding Company fellow investors) and not the listed Group. Please correct me if I am wrong.
(Not Vested in either)
ic, he must find it undervalued then.... and not because of any synergy with listed Ho Bee's business.