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Who else will buy F& N if not Charoen? He has total power with his shareholding - who is going to take up the 5% he needs to offload to keep the listing? What is his game plan? Makes no sense!
F& N pricing is just acting naturally since it had gone back to listing. CS fight for control of it during the bidding war and whatever price he offered is above market premium, control premium exactly. Hence, it is naturally that F& N is drifting back to its economic value based on PE, ROE, NAV etc. Of course, cant discount CS behind the scene activity if any.
So far, look like pesimistic players took their chances against optimistic one.
F & N Last: Done - $9.0 Volume changing hands: 2,105,000 million shr 
-0.44 cents
The minority is at the mercy of the big shareholder.Same thing played out at STXOSV,the trading px has fallen below the offeror px.Hefty loss for those still hodling and thinking of saving some brokerage fees.
The price falls look likely they are pushing down the price, and call for privatize at a lower rate.
cunning businessman....Rate down no advantage to them. The minority is too weak for any threat, less then 10%.
It already said that it will not privatise, think it has to sell some in order to have less than 90%. It only has a few months to do that. Another possible move is to declare dividend to unlock the cash to pay off some debts.
Instead of pushing it up, it is possible that ThBev may just grab FN from the market at a lower price for the rest of the 10% before it privatise it?
starlene ( Date: 21-Apr-2013 23:12) Posted:
With about 90%,the Thai guy unlikley to sell in open mkt..may push higher since no seller other than the minority sellers left price,may remain unchanged,but I think they may try to push up then do a pte placement...they hve up to Juky to do so |
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With about 90%,the Thai guy unlikley to sell in open mkt..may push higher since no seller other than the minority sellers left price,may remain unchanged,but I think they may try to push up then do a pte placement...they hve up to Juky to do so
Thk for sharing, it's thought to be going for, at least three months as agree upon to open for windows trading period with SGX enknowledge.
This trading period maybe volatile in play, a chance to let go, a chance to shot at, a chance to maintain vested interest by BBs (esp the owner) and a chance for contra player's changing hands.
Just sharing my thot n stk/shr trading interest in SJ.
starlene ( Date: 20-Apr-2013 15:41) Posted:
< 10% in public hands and this minority is unlikley to sell otherwise they would have sold earlier,than wait till now,a good chance for major shareholder to push higher than place out to ensure the public float remain intact adn F& N remain listed..the Thai guy may not want to take losses since he last offered about $9.55(net of dividend is $1.43)
My personal opinion only..I may be wrong
teeth53 ( Date: 20-Apr-2013 14:01) Posted:
ThaiBev 1st offer $8.88 cents, next and final offered is $9.43 cents ++ all the work and others money that need to put to sucessful bid for...It is noted to say F& N it worth $11.00 dollars.
Yet Chief. Mr Charoen is quite undecide yet...Three months.?. He is likely taking more advise from some big gun and mulling over his next strategy.
teeth53 thot - Meanwhile trade with care on short term, till dust is clear. |
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< 10% in public hands and this minority is unlikley to sell otherwise they would have sold earlier,than wait till now,a good chance for major shareholder to push higher than place out to ensure the public float remain intact adn F& N remain listed..the Thai guy may not want to take losses since he last offered about $9.55(net of dividend is $1.43)
My personal opinion only..I may be wrong
teeth53 ( Date: 20-Apr-2013 14:01) Posted:
ThaiBev 1st offer $8.88 cents, next and final offered is $9.43 cents ++ all the work and others money that need to put to sucessful bid for...It is noted to say F& N it worth $11.00 dollars.
Yet Chief. Mr Charoen is quite undecide yet...Three months.?. He is likely taking more advise from some big gun and mulling over his next strategy.
teeth53 thot - Meanwhile trade with care on short term, till dust is clear. |
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ThaiBev 1st offer $8.88 cents, next and final offered is $9.43 cents ++ all the work and others money that need to put to sucessful bid for...It is noted to say F& N it worth $11.00 dollars.
Yet Chief. Mr Charoen is quite undecide yet...Three months.?. He is likely taking more advise from some big gun and mulling over his next strategy.
teeth53 thot - Meanwhile trade with care on short term, till dust is clear.
Hi, Can anybody kindly give advice for F& N minority investor who is still vested. What will probably happen to F& N share price? Will it drop down heavily?
The Board of Directors (the " Board" ) of Fraser and Neave, Limited. (the " Company" ) wishes to announce that the Company’s shareholders, TCC Assets Limited (" TCCA" ) and Thai Beverage Public Company Limited (" ThaiBev" ) have informed the Company today that, further to their discussions with the Singapore Exchange Securities Trading Limited (" SGX-ST" ), the SGX-ST has confirmed that it has no objection to the lifting of the trading halt and to allow the Company a period of three (3) months to Friday, 19 July 2013 to restore its public float.
In light of the above, the Company will be submitting a request to lift the trading halt on the Company's shares shortly. Trading in the Company's shares is expected to resume from 9 a.m. on Monday, 22 April 2013.
The Company will update shareholders as and when it has further information regarding the restoration of the public float of the Company.
CHaroen is asking his people to prepare the papers to SGX to allow FNN to be listed back on the exchange
This can be good or bad , up to you to see it
One way I heard is to call for placement shares to public or some big funds
But not easy to do that, but Yeo Hiap Seng did that before
Good news got nothing to do will this
Each action or news will negate each other
So don't expect the price to shoot sky high
F& N TO RESTORE FREE FLOAT, REMAIN LISTED
MAJOR STOCK INDICES
Move may impact synergies between ThaiBev and F& N.
Fraser and Neave (F& N) will seek to restore its free float and remain a listed stock, the property and beverage company announced yesterday.
Vehicles for F& N's major shareholder Charoen Sirivadhanabhakdi are " currently in discussions" with the Singapore Exchange (SGX) about restoring the free float, F& N said in a statement.
The announcement came two months a� � er trading in F& N shares was halted following the comple� � on of a takeover by Mr Charoen, one of Thailand's richest men. He holds more than 90 per cent of F& N's shares, leaving the stock's free float below the 10 per cent minimum to remain listed.
In order to restore the free float, Mr Charoen will either have to sell some of the shares that he acquired at $9.55 apiece during the takeover or place out newly issued F& N shares.
No deal cha� � er has yet to emerge, according to checks with market players over the past week.
Observers have said that it is unlikely that the market would be willing to pay $9.55 per share in a placement, given that Mr Charoen's purchase price included a control premium.
SGX on April 1 gave F& N un� � l yesterday to declare its lis� � ng inten� � on. If F& N had not stated its inten� � on to remain listed by the deadline, SGX would have suspended the stock.
Appointments may not mean it would stay listed. Going private can free up resources such as money and financial reporting requirements that can be used to focus on long term goals.
TWO senior appointments to the board of Fraser and Neave (F& N) have triggered a market rethinking that controlling shareholder Charoen Sirivadhanabhakdi may want the company to stay listed after all.
" It does suggest that they might want to keep it listed," said Jonathan Foster, director of global special situations at Religare Capital Markets.
F& N, a property and beverage conglomerate, said yesterday that it has appointed food and beverage (F& B) veteran Koh Poh Tiong as adviser to the board and non-independent, non-executive director with immediate effect.
This came a day after F& N announced the appointment of former Singapore finance minister Richard Hu as senior adviser to the board.
Thank you very much, infancybird. I am very relieved to hear that!
No, it has to take back all outstanding share at $ 9.43( ex dividend) if it go delisted. Its in offer document.
equity ( Date: 02-Apr-2013 12:37) Posted:
| Thanks for the reply, infancybird. Do you know whether it is possible (legal) that TCC will be allowed to delist F& N and leave the minority shareholders stuck with holding shares of a private company at their discretion or perhaps at best, only offer to buy out their shares at a price LOWER than the Offer price of $9.43? |
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Thank you sg225551
