Posts: 2,278
Threads: 78
Joined: Oct 2010
Reputation:
34
I wonder will it mean that HNE and CXP will also retain cash and reduce their distributions to fetch a better price ? Any ideas ?
(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.
Posts: 3,887
Threads: 84
Joined: Aug 2011
Reputation:
77
01-05-2013, 07:50 PM
(This post was last modified: 01-05-2013, 08:13 PM by weijian.)
On the other hand, the NAV for Mgt to get their fat divestment bonus is 60.5cents. Mr Market has been valuing it slightly above this rate recently - Does it anticipate a 'better than NAV' valuation for APPT IPO?
(01-05-2013, 07:48 PM)Nick Wrote: I wonder will it mean that HNE and CXP will also retain cash and reduce their distributions to fetch a better price ? Any ideas ?
(Not Vested)
For CXP, i dont think Pan United will agree (unless they are buying it)
For HNE, i anticipate it will do so (retain cash) since it has majority control. Even after cutting dividends by 50%, ~15mil should still be accrued to the books for their bonus.
Posts: 3,887
Threads: 84
Joined: Aug 2011
Reputation:
77
MIIF announced that it will suspend its shares before the start of trading on 7th May, for a period of 8 days. Trading is expected to resume on the start of trading on 17th May.
http://info.sgx.com/webcoranncatth.nsf/V...20081DF28/$file/MIIFSuspend060513.pdf?openelement
MIIF is currently trading at 63cents with over 20mil shares volume, +2.5cents above Mgt's valuation to get its fat 15mil bonus. Are punters pricing in a strong demand or higher valuation for APPT IPO?
Posts: 3,474
Threads: 95
Joined: Jul 2011
Reputation:
17
17-05-2013, 09:47 AM
(This post was last modified: 17-05-2013, 09:47 AM by Temperament.)
Quote:From MIIF:
APTT OFFERING PRICE AND MIIF APTT UNITS
In addition, MIIF notes that the APTT Offering Price has been fixed at S$0.97 per Unit (the “Offering Price”). Based on the Offering Price and estimated transaction costs, the consideration payable to MIIF for the Proposed Divestment will be S$510.1 million. As a result, MIIF has fixed the number of MIIF APTT Units for distribution to Shareholders at 525,866,849.
So after fees, etc... how much will the cash per unit? Can anyone give an estimation?
Vested.
WB:-
1) Rule # 1, do not lose money.
2) Rule # 2, refer to # 1.
3) Not until you can manage your emotions, you can manage your money.
Truism of Investments.
A) Buying a security is buying RISK not Return
B) You can control RISK (to a certain level, hopefully only.) But definitely not the outcome of the Return.
NB:-
My signature is meant for psychoing myself. No offence to anyone. i am trying not to lose money unnecessary anymore.
Posts: 1,119
Threads: 16
Joined: Jan 2012
Reputation:
0
(17-05-2013, 09:47 AM)Temperament Wrote: Quote:From MIIF:
APTT OFFERING PRICE AND MIIF APTT UNITS
In addition, MIIF notes that the APTT Offering Price has been fixed at S$0.97 per Unit (the “Offering Price”). Based on the Offering Price and estimated transaction costs, the consideration payable to MIIF for the Proposed Divestment will be S$510.1 million. As a result, MIIF has fixed the number of MIIF APTT Units for distribution to Shareholders at 525,866,849.
So after fees, etc... how much will the cash per unit? Can anyone give an estimation?
Vested.
42.5-44c/share
Posts: 1,889
Threads: 5
Joined: Feb 2011
Reputation:
15
(17-05-2013, 04:32 PM)propertyinvestor Wrote: (17-05-2013, 09:47 AM)Temperament Wrote: Quote:From MIIF:
APTT OFFERING PRICE AND MIIF APTT UNITS
In addition, MIIF notes that the APTT Offering Price has been fixed at S$0.97 per Unit (the “Offering Price”). Based on the Offering Price and estimated transaction costs, the consideration payable to MIIF for the Proposed Divestment will be S$510.1 million. As a result, MIIF has fixed the number of MIIF APTT Units for distribution to Shareholders at 525,866,849.
So after fees, etc... how much will the cash per unit? Can anyone give an estimation?
Vested.
42.5-44c/share
$0.44329, see SGX Annc pg3
Posts: 3,474
Threads: 95
Joined: Jul 2011
Reputation:
17
17-05-2013, 05:21 PM
(This post was last modified: 17-05-2013, 05:27 PM by Temperament.)
(17-05-2013, 04:56 PM)KopiKat Wrote: (17-05-2013, 04:32 PM)propertyinvestor Wrote: (17-05-2013, 09:47 AM)Temperament Wrote: Quote:From MIIF:
APTT OFFERING PRICE AND MIIF APTT UNITS
In addition, MIIF notes that the APTT Offering Price has been fixed at S$0.97 per Unit (the “Offering Price”). Based on the Offering Price and estimated transaction costs, the consideration payable to MIIF for the Proposed Divestment will be S$510.1 million. As a result, MIIF has fixed the number of MIIF APTT Units for distribution to Shareholders at 525,866,849.
So after fees, etc... how much will the cash per unit? Can anyone give an estimation?
Vested.
42.5-44c/share
$0.44329, see SGX Annc pg3 Thanks. But that is only an example which i had read. Actual still akan datang?
WB:-
1) Rule # 1, do not lose money.
2) Rule # 2, refer to # 1.
3) Not until you can manage your emotions, you can manage your money.
Truism of Investments.
A) Buying a security is buying RISK not Return
B) You can control RISK (to a certain level, hopefully only.) But definitely not the outcome of the Return.
NB:-
My signature is meant for psychoing myself. No offence to anyone. i am trying not to lose money unnecessary anymore.
Posts: 3,887
Threads: 84
Joined: Aug 2011
Reputation:
77
20-05-2013, 11:35 PM
(This post was last modified: 20-05-2013, 11:38 PM by weijian.)
(17-05-2013, 09:47 AM)Temperament Wrote: Quote:From MIIF:
APTT OFFERING PRICE AND MIIF APTT UNITS
In addition, MIIF notes that the APTT Offering Price has been fixed at S$0.97 per Unit (the “Offering Price”). Based on the Offering Price and estimated transaction costs, the consideration payable to MIIF for the Proposed Divestment will be S$510.1 million. As a result, MIIF has fixed the number of MIIF APTT Units for distribution to Shareholders at 525,866,849.
So after fees, etc... how much will the cash per unit? Can anyone give an estimation?
Vested.
The document suggests that shareholder who opted for cash will get 443.29sgd/1000 shares AFTER fees.
Quote:As the actual transaction costs will only be determined on or close to the Listing Date, should the cash equivalent of the MIIF APTT Units be less than the actual MIIF Consideration payable on the actual listing date, the difference will be payable to MIIF in cash, which will in turn be distributed to Shareholders.
In addition, from the above statement, it seems like if more shareholders take up the APTT units, then actual transaction costs will be lower. There may be additional cash payout after book close and 443.29sgd/1000 shares is the minimum. So did Mgt calculate 510mil based on full cash election from all shareholders?
Anyone who went for free dinner today with SIAS and MIIF, can help to clarify this?
Posts: 2,278
Threads: 78
Joined: Oct 2010
Reputation:
34
http://info.sgx.com/webcoranncatth.nsf/V...A00356D05/$file/MIIFAPTTListing.pdf?openelement
Those who elected cash will get a further 1.04 cents dividend.
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.
Posts: 650
Threads: 11
Joined: Dec 2010
Reputation:
7
(29-05-2013, 05:49 PM)Nick Wrote: http://info.sgx.com/webcoranncatth.nsf/V...A00356D05/$file/MIIFAPTTListing.pdf?openelement
Those who elected cash will get a further 1.04 cents dividend.
I think the additional cash is for all MIIF shareholders and not just those who elect for cash. The determination is as at the Record Date of 9 May 2013. The cash election deadline is 21 May 2013. So there's a mismatch there.
|
Homepage
PR Newswire
