Wing Tai Holdings

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#81
B******* CHENG FELLOW TRYING TO SCREW ALL SHAREHOLDERS BY ACQUIRING 51% OF THE COMPANY SHARES ON THE CHEAP! WTF!!!!!
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#82
Ascend Capital Offers S$1.39 a Share for Wing Tai Stake
2012-05-10 03:25:11.462 GMT


By Sean Collins
May 10 (Bloomberg) -- Ascend Capital is making a partial
offer for Wing Tai at s$1.39 a share, according to a statement
to the Singapore stock exchange.
* Ascend Capital offer for 68.1m shares
* Offer not a privatization exercise and SGX listing to be
maintained
* DBS Bank appointed financial adviser to offeror for partial
offer
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#83
I will sell if it is >1.40 when resume...Wink
The thing about karma, It always comes around and bite you when you least expected.
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#84
Estimated opening price is in the region of $1.275 currently. I will reject the offer. The offer price is way too low in my opinion. Well, let's see what the appointed financial adviser says.
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#85
(10-05-2012, 12:10 PM)propertyinvestor Wrote: B******* CHENG FELLOW TRYING TO SCREW ALL SHAREHOLDERS BY ACQUIRING 51% OF THE COMPANY SHARES ON THE CHEAP! WTF!!!!!

that cheng guy may be a b**t**d if he's trying to rob us.

However, if we think positively, maybe it is a very smart way to tell all other investors that "look, i think 1.18 is ridiculously undervalued, even at 1.39, it is still undervalued, but if you think otherwise, you can always tender your shares to me at 1.39, i will be willing to accept it."

It is a much more efficient way than doing share buyback on the open market. I wont sell any of my shares at 1.39 though. if around 1.60, i will be more open to the idea
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#86
Given the offer price, my opinion is that not many shareowners will be willing to bite especially since there is no intention to seek delisting.
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#87
What does partial offer to minority shareholders means?

Thanks!
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#88
I'm curious about the intention. What is it that Cheng WK cannot do now with Wing Tai that makes him want to do this partial offer.
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#89
(10-05-2012, 01:52 PM)old friend Wrote: What does partial offer to minority shareholders means?

Thanks!

It should mean than the boss is willing to pay $1.39 for each share you own, up to 15% of your holdings. Eg. if you have 100 lots, he will buy 15 lots from you for 15 x $1390. It is still subjected to approval though
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#90
(10-05-2012, 01:52 PM)old friend Wrote: What does partial offer to minority shareholders means?

Thanks!

If you have 10000 shares, you are given a offer to sell 1500 shares at $1.39 to the offerer.
You will keep the rest of the 8500 shares.
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