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suddenly i just hate those cap land management... but wonder whats the price of the offer...
GO by CapLd for Ascott Group (AG) and ART.
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_59842BCAC6948D32482573C90031BD41/$file/CL.Pre-offerAnncTAG.7Jan08.pdf?openelement
Details will be out tomo.
Now, it is clear why the price of AG was driven down from about 1.70+ to current levels despite strong fundamentals. On the way down, there were several married deals to push prices lower.....this is so that CapLd can buy AG on the cheap.
I suspect the strategy was to boost CapiLd's flagging earnings with the expected property slowdown.
Dirty BB play.
But, no worries........the GO is a reflection of the fundamentals of AG. After the GO, CapitaLd will try to push up the price of AG.
What does this mean?
CapitaLand Limited (?
its shares as well as the shares of its subsidiary, The Ascott Group Limited
(?
with a proposed voluntary general offer by a wholly-owned subsidiary of CapitaLand
(?
Subsidiary, will be set out in an announcement of its firm intention to make the offer,
to be released by its financial adviser on 8 January 2008.
looks like it.
0638 GMT [Dow Jones] CapitaLand (C31.SG) may announce sale of property
asset to partly owned serviced residences operator Ascott Group (A07.SG),
which in turn could divest the asset into Ascott Residence Trust (A68U.SG),
analysts say. "All three companies have halted the trading of their shares,
so it must be a three-way deal," says OCBC analyst Winston Liew. Companies
have declined to comment. Shares halted since early Monday pending
announcement. CapitaLand last traded Friday at S$6.25; Ascott Group at
S$1.21; Ascott Residence Trust at S$1.42. (PKK)
CEO Jennie Chua sold the assets of the company????? like she did with Raffles Hotel.
Just a wild speculation.
I hope so also .Keeping my fingers cross
My broker said Ascott like discussing a leasing deal ....hopefully succeed !
Ascott is in hospitality industry not property. Hospitality industry in growing in view of F1 & IRs in 08/09.
since it only halt ascott and cap land alone. it might be a merger or a break away from cap land.... very good news or very bad news...
interesting and exciting to see what happens
I think should be good to neutral...poperty doing well........vest 44lots..1.18c.
ascott and cap land merger? hahahaha
pikachu,
If that is the case, then perhaps Spore Stock Exch should 'balek tidoh' everytime DOW has a big fall.
Maybe to avoid bloodshed today??!
CapitaLand, Ascott Gp and ART requested for trading halt.
Wonder what it could be????? Anyone with any insights?
imho it seems like the selling preasure has subside. looks like the correction for this counter is over!
formation of wave 1 looks to be in progress if it continue to gap up before the wave 2 formation that have a minor retracement. lets see...
Hi victor_lee,
Hard to tell from the TA charts now. Like quite a lot of stocks currently, the volumes are low and the signals unclear. Better to wait till next year to see what happens.
Never break 1.20. And rise on small vol onli. Need few more days to confirm. Somemore got to see if STI can sustain uptrend and now near resistant 3490-3550.
Singaporegal any comments? Thanks in advance.
it on road to recovery?
ghpreal,
Agreed.
It is on my radar screen.
At current price, it is beginning to look interesting for medium to long term.