Popular Holdings

(13-02-2015, 04:57 PM)testwrite Wrote:

(12-02-2015, 10:11 AM)ricklim1 Wrote: Bid and offer price at 31 and 31.5 cents respectively are below takeover price of 32 cents. My question is why isn't the offeror buying the shares in the open market since it is below the takeover price?

read the question wrongly, i think the offeror wants to be sure he get 90% holding before committing the price

I didn't read in detail on the offer, but I reckon it might be the reason. It is more of all-or-none i.e. 90%, or none, since the offer conditional on 90% acceptance.

(not vested)

Based on the latest announcement, the offeror has acquired 87.32% of the total share issue and is extending its offer till 5th March. I wonder if the extension date will make a difference for it to cross over the unconditional 90% mark. Vested.

Most likely the offer will go through as offeror does not need much more shares to hit the 90% mark. Mr. Market agrees and the share price has correspondingly went up.

I hedged my position by selling my holdings in my SRS account in the open market while I tendered in the shares in my cash account. On hindsight, perhaps I should have had a little more faith and tendered in all my shares.

Looking forward to the close of the offer now and to collect back my money to reinvest.

they need another 3% for the takover, which works out to be 24million shares, todays buying volume is 21 million share, unfortunately the selling volume at 0.32 is 2 million, it is risky, to buy 24 million shares in 10 days isnt so easy, seems that nobody is selling, and those who wants to tender should have tender already,

Disagree with testwrite analysis. I was waiting for yesterday announcement to tender my shares as if I tender my shares I cant withdraw. Once I know deal is most likely to be done - I will tender my shares. I guess one will see increase in number of shares tendered over the next three days

I think there are many people who have the intent to tender the shares but have yet to do it as the Independent Financial Adviser's Recommendation only came not too long ago. And those who are holding it through nominee accounts have an even shorter deadline. I also suspect that some are using the Offer as an arbitrage opportunity by accumulating shares at $0.31-$0.315 and will tender their shares in soon or risk sitting on a big paper loss should the Offer not come through.

Cat and mouse game in my opinion but I think existing shareholders will be cognizant of the fact that if the offer falls through, they risk the price going back to $0.23-$0.235.

I agree with buddy here and expect to see more shares being tendered. Let's wait and see.

(25-02-2015, 03:41 PM)buddy Wrote: Disagree with testwrite analysis. I was waiting for yesterday announcement to tender my shares as if I tender my shares I cant withdraw. Once I know deal is most likely to be done - I will tender my shares. I guess one will see increase in number of shares tendered over the next three days

if you dont mind can you tell me the rationale of tendering later. from what i read, you will like the GO to be successful, presuming as of yesterday, the result was 87.32%, and the management decide not to go ahead with the takeover, the price will drop drastically, the way i see, if you dont think the Takeover is successful, it is better to sell at 0.31, if you think it is going to be successful, you tender the share, I am short sighted, i cannot see the benefit of waiting for the management to announce it is almost successful to tender, you dont mind if you can explain the reasoning.

I was one of those who accepted the offer.

Popular Holdings was one of the first shares I bought, back in 2002 or 2003. The price back then was about $0.32. I later sold and couple of years ago, bought Popular at $0.16. Selling it for $0.32 is a good deal for me.

Some people are trying to accumulate large amounts of shares for $0.31 to $0.315, in order to make a $0.005 profit per share from hundreds of thousands, or millions of shares when they accept the offer. I hope their bet pays off for their own sakes.

Testwrite:

Once popular announced open offer I decided to exit position. Then choice was whether to tender or sell at 31 cents where stock traded most of time. I did not want to tender shares on day 1 of receiving form as once you tender shares you cant have change of mind and withdraw from CDP & sell them. I just wanted flexibility of time to decide to tender or sell. Come to think of it if Popular has announced that Grand Apex had 70% acceptance (day before yesterday) - I am sure then it looks like the privatisation wont go through and stock would have fallen to 27-28 cents instead of 315 cents . In that case I just wanted flexibility to sell my holdings. By delaying tendering my shares I dont think I had much to loose. lastly the person who is offering at 32 cents is telling you he will tender his shares - he just dont want to take risk of deal falling through.

(26-02-2015, 06:07 AM)buddy Wrote: Testwrite:

Once popular announced open offer I decided to exit position. Then choice was whether to tender or sell at 31 cents where stock traded most of time. I did not want to tender shares on day 1 of receiving form as once you tender shares you cant have change of mind and withdraw from CDP & sell them. I just wanted flexibility of time to decide to tender or sell. Come to think of it if Popular has announced that Grand Apex had 70% acceptance (day before yesterday) - I am sure then it looks like the privatisation wont go through and stock would have fallen to 27-28 cents instead of 315 cents . In that case I just wanted flexibility to sell my holdings. By delaying tendering my shares I dont think I had much to loose. lastly the person who is offering at 32 cents is telling you he will tender his shares - he just dont want to take risk of deal falling through.

thank you for the explanation, you are right, now that the acceptance result is this good, most likely it will go through, you are taking precaution if the acceptance level is low, and they extend the deadline, you still can sell, never thought of that, thanks