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10-06-2018, 11:29 AM
(This post was last modified: 10-06-2018, 11:31 AM by soros.)
The offer to eSun ( 00571.HK) shareholders is pitched at $1.30 per share and that may be followed by a mandatory offer for Lai Fung ( 01125.HK) at $5.22 per share
The closing prices on 8 Oct 2018 are $1.36 for eSun ( NAV = $6.11 ) and $12.70 for Lai Fung. ( NAV = $44 )
eSun has never declared any dividend since 2000 to 2017 and in 2008 , even had a rights issue at 1 for 2 at $2.50
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Reposting this information.
Lai Sun ( 0191.HK ) started as a garment company and branched out with subsidiary company , Lai Sun Development ( 0488.HK ) which is a substantial property development company.
Due to near collapse 20 years ago , the companies did not pay any dividend for about 17 years but recently the companies have resumed paying a tiny dividend.
About 3 years ago, the Lam family held 50% shares in Lai Sun ( 191.HK ) but it seems some family members have been buying the shares and taken the total family holding to 75%.
The share price is around HK $10 ( for 191 ) and HK $12 ( for 488) but the NAV of both companies is over HK $50 .
The company is headed by Peter Lam who has been appointed to head the HK Trade Development Council.( HK Government Unit ) in September . So I am expecting a higher dividend otherwise there is no point raising the family stake from 50% to 75%
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The chairman, Lam Kin Min passed away yesterday ( 8 Jan 2021) leaving the 191.HK share price, near to the bottom of its trading range.
Should investors expect a higher contribution to dividend payment from the next chairman or chairwomen ?
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