CityFarmer, we have exactly opposite views on the benefits.
Minority shareholders in F & N are unlikely to get a free ride on Mr. Towkay's tail. The ones to be benefited should be Mr. Towkay and Thai Beverage. They are the ones who put out their efforts to create values, not the minority shareholders of F & N or the management of F & N. Mr. Towkay benefits from the demerger of the property business and the beverage business no matter what price FCL and F & N are. However, for minority shareholders, you are only benefited if FCL & F & N trades high enough.
Thai Beverage shareholders benefits even more. It has gone through a great length and deserves all the benefit. The price after the acquisition of F & N shares and today's huge run-up are the clear indications.
Minority shareholders in F & N are unlikely to get a free ride on Mr. Towkay's tail. The ones to be benefited should be Mr. Towkay and Thai Beverage. They are the ones who put out their efforts to create values, not the minority shareholders of F & N or the management of F & N. Mr. Towkay benefits from the demerger of the property business and the beverage business no matter what price FCL and F & N are. However, for minority shareholders, you are only benefited if FCL & F & N trades high enough.
Thai Beverage shareholders benefits even more. It has gone through a great length and deserves all the benefit. The price after the acquisition of F & N shares and today's huge run-up are the clear indications.