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(04-04-2013, 09:28 AM)Drizzt Wrote: the key thing is that the sell price is less than purchase price. and that potential acquirers actually value them as less than that.
its either miif overpaid last time, people dont realize the value or that the prospect of TBC isnt really that good.
Without any consideration of the quality of the asset and who got the valuation right/wrong, it can also be argued that buyers are also suffering from "anchoring bias" - Do note that MIIF is listed and TBC's valuations are updated on a quarterly basis. Therefore, a potential buyer's soliciting price can be affected by the knowledge of the valuation price in the results report, and there is the 'human bargaining tendency' to offer something below that.
But it does seem to indicate that the dim shareholder's hope of getting richer valuations from TBC (to compensate for potential lower valuations from CXP/HNE) are getting distant.......
(04-04-2013, 08:25 AM)Temperament Wrote: If the IPO listing on SGX is successful as "APTT", shall we opt for cash of $0.408 (aka is value correct?) or shares?
Looking at how some of the business trusts are performing and those that have delayed their IPOs (eg. Reliance's underwater cables), a MIIF investor who wants to continue to have their TBC fix, might be better off if they take the cash and subsequently wait for a better price after IPO....
