Great Eastern Holding

Anyone has attempted to re-estimate how much is GE holding share worth ?

The profit from the sale of APB and F&N stake will contribute $ 410 millions profit to GE Holding.

Q2 results want' good.
GH holding could be one of the last few listed companies potentially to be privatized after APB and Cerebos

With OCBC taking lots of cash in from divesting F&N and APB stakes. They may try to delist GE holding again.
If i am not mistaken, the last offer was $ 18 /Shares in 2006/


Vested.

I have enclosed an old research to provide some history on previous OCBC unsuccessful bids on GE.

The first offer was via a share swap of 0.976 OCBC for 1 GE in 04.

That was followed by 2 share swap deals with UOB KH @ 2.3424 OCBC for 1 GE in 05 & 06.

A full cash offer was tabled at $16 in middle 06 valuing GE at 1.51x embedded value (EV).

With EV risen to at least $16 per share, OCBC has to at least match previous buyout offer in order to convince stubborn shareholders to sell out. These minorities currently owns 60.7m shares or slightly less than 13% of GE outstanding share cap.

A full cash offer will be expensive. However, a share swap of at least 2.5 OCBC for one GE may enhance the appeal of a potential offer. The total dividend yield on OCBC will definitely more than match GE.

GE share price has underperformed OCBC since the last GO in 06. The tightly held shares may have cap share price performance. In the light of strong OCBC share price performance since then, an equity swap to gain full control may be a cheaper option. Moreover at 2.5 new OCBC, the new shares to be issued will made up only 4.25% of present OCBC share cap.

Anyway, the above analysis is purely hypothetical and the poor minorities in GE may continue to be locked in the present shareholding structure given that OCBC is comfortably in control of GE.

(03-08-2012, 04:51 PM)SLC81 Wrote: Q2 results want' good.
GH holding could be one of the last few listed companies potentially to be privatized after APB and Cerebos

With OCBC taking lots of cash in from divesting F&N and APB stakes. They may try to delist GE holding again.
If i am not mistaken, the last offer was $ 18 /Shares in 2006/


Vested.

GE share price done very well today - apart from a cimb report highlighting potential delisting candidates on sgx, can there be smoke without fire for a tightly held blue chip?

Thanks for the PDF files. I think they will distribute out the proceed from divesting F&N and APB. No points to keep this. I may add it some more shares of GE.

(04-09-2012, 09:21 AM)SLC81 Wrote: Thanks for the PDF files. I think they will distribute out the proceed from divesting F&N and APB. No points to keep this. I may add it some more shares of GE.

Good afternoon every1.

what cooking today? any1?

vested

not a call to buy or sell

I am aiming for 20 $/share at least

1890 m + 530.9 m divide 473.3m = $5

Great Eastern Holdings Limited will be announcing its financial results for the third quarter ended 30 September 2012 on Friday, 2 November 2012, before the trading market opens.

(16-10-2012, 02:12 PM)kbl Wrote: 1890 m + 530.9 m divide 473.3m = $5

The GEH group will realize a total pre-tax gain of approximately S$2,183.7 million, based on historical book cost, arising from the sale of APB Sale Shares and F&N Sale Shares. The average historical book cost per APB Sale Share and per F&N Sale Share as at 31 March 2012 were S$2.13 and S$0.98, respectively. On completion, most of the gains would accrue to the insurance funds with the balance to the shareholders’ funds. Based on the price of S$45.00 per APB Sale Share and S$8.88 per F&N Sale Share, in respect of the shares held through shareholders’ funds of the GEH group, GEH group will realise a post-tax gain of approximately S$421.6 million from the sale of the APB Sale Shares and the F&N Sale Shares

421mil is realized as profit to GEH