Macquarie Intl   

MIIF

the entitlement CE is around $0.44 per lot of MIIF


Wonder will MIIF open at 0.18-0.22 tomorrow?

 

May trade up given sentiment but do not stay around the well too long or think too much...do the homework. 

Flowers are nice. Candy is dandy. But, cash is king. 

Oh yes,

      Good luck...   

 

  saw this below... will it not crystallise...

 

 

Notwithstanding the lifting of the Suspension before the market opens on 17 May 2013, MIIF will continue to remind Shareholders and potential investors using appropriate public channels (including by way of announcements on SGXNET) that Entitlements for Shareholders as at the Record Date of 5.00 p.m. on 9 May 2013 will only crystallise upon completion of the Offering on 29 May 2013

 

Given current market conditions, APPT units likely to trade above IPO price of 97 cents upon listing. Hence, better to take units. Only trouble is the odd lots.

 

Thanks... that means hv to sell very low...

 

Tomorrow @ 9am

 

Sorry can advice when can I start to sell miif stock and having divestment cash entitlement. Thanks

 

 

APTT   Entitlement = ( MIIF share *  525,866,849 ) / 1,149,857,154 

For Cash Election = APTT Entitlement * 0.97

 

 

IPO price for APTT is $0.97

  As for the units, im not too sure what they mean by base offer at 1.39 billion units.

 

Thanks OldFlyingFox & JGartside for info.

Now just have to see how much MIIF is going to drop tmr.

 

think the price is around $1. according to news in bloomberg

 

Thanks JGartside, still waiting for the IPO pricing to be out today. And need to decide by tomorrow whether to opt for cash as the form has to reach them by next Tuesday, 5pm.

 

Leftie and all your Friends

What you need to do is valuation of your MIIF share vs. a valuation of APTT share.  (Do not count number of old shares vs. number of new shares. It is as good as counting all marbles as same size.) Want one way? Here it is: look at valuation of TBC in MIIF 20 February, 2013 Circular (You remember this, don't you? It has the CIMB proposal to pay bonus to MIMAL.), take this number and divide by 47.5%, then compare this number to equity valuation of APTT. Allama, the APTT valuation is higher! So good for you, no? Really? Your ownership of TBC in APTT will be less than your ownership of TBC in MIIF.  Why? Because APTT needs to raise close to $300 million extra to pay contingent liabilities, such as debt, refinancing fees, management compensation, taxes and underwriting fees to bankers. So check that without the extra money from IPO, there is little or no money for dividend in first year. Find your answers in the APTT IPO prospectus.

If in doubt, call SIAS and they may be able to help.

 

MIIF will continue as there are still other asset waiting for sales, I think it will trade at NAV price.

 

Hi OldFlyingFox,

If get odd lots, can sell your odd lots on " unit share" Best would be to sell with mother share on same day for amalgamation


MIIF will start trading again on 17th may Friday.

After the APTT is listed or cash payout, will MIIF counter be delisted?

 

I have got the letter this afternoon. Just wondering if  opt for  the ipo share, most likely will be in odd numbers, can I trade in odd numbers so that it will become a proper lots?

 

The IPO price and the number of units will be determine on 16 May, so I will wait till than to decide which options to take. It also mentioned that there will be calculator provided in MIIF website by then.

 

By the way, how is the performance of the IPOs for this month?

 

Look at your mail. Time to act.  You MUST make a decision on portional unit or cash. Default is units.  Don't like cash or units? You can sell only when listed.  No, the price of a units has not been set. See 4th and 5th April Circulars.

Today from MIIF (see full statement here http://www.4-traders.com/MACQUARIE-INT-INFRASTRUC-6497949/news/Macquarie-Int-Infrastructure-Fund-Ltd-MIIF-Announces-Despatch-of-Notice-of-Cash-Election-16841112/):

" Shareholders who do not exercise the Cash Election will have the number of MIIF APTT Units comprised in their Entitlement allotted to them and (in the case of Entitled Depositors) credited to their respective Securities Account. Shareholders who exercise the Cash Election will receive the cash amount equivalent to the initial public offering price of the Units multiplied by the number of MIIF APTT Units comprised in their Entitlement (the " Cash Distribution" )."
" Shareholders are to submit the duly completed and signed Notice of Cash Election in accordance with the instructions set out therein by 5.00 p.m. on 21 May 2013. The Cash Distribution payment date is expected to be on or about 31 May 2013. Shareholders who wish to receive their Entitlement in MIIF APTT Units need not complete and submit the Notice of Cash Election."

 

so its price will be around 0.20+ after XE.

  Most likely will opt for cash.

ok, will keep track of the related ipo.


  (read sgx announcement but dont understand most of the terms and " english" used.)

oldflyingfox      ( Date: 07-May-2013 16:24) Posted: I think so but I  have a feeling that  the entitlement should be more than $0.408, let see how much the pricing of the ipo and then decide whether to take cash or new share. I think the interest and focus will shift to the new ipo after that, the share of the MIIF can just put one side  until the news of  the other asset sales or new dividend.  Leftie      ( Date: 06-May-2013 21:00) Posted: Lets say the CE is 0.408. After XE, will it drop from current price (0.63) by 0.408 or so? Something like CD, then XD Vested here @ 0.57. Lucky Oldflyingfox says its going to be suspended, otherwise tmr see " sus" will start to panic

 

I think so but I  have a feeling that  the entitlement should be more than $0.408, let see how much the pricing of the ipo and then decide whether to take cash or new share.

I think the interest and focus will shift to the new ipo after that, the share of the MIIF can just put one side  until the news of  the other asset sales or new dividend. 

Leftie      ( Date: 06-May-2013 21:00) Posted: Lets say the CE is 0.408. After XE, will it drop from current price (0.63) by 0.408 or so? Something like CD, then XD Vested here @ 0.57. Lucky Oldflyingfox says its going to be suspended, otherwise tmr see " sus" will start to panic

 

MAS Comments system down and the shares are suspended. Charming.

If you have comments, you need to post to webmaster@mas.gov.sg.

Or, call MAS and ask for dealing officer in Fund Management and the other is in Capital Markets.

And if not, contact SIAS President / CEO David Gerald, who wrote endorsing MIIF management, for help.

Good luck.