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08-02-2014, 08:33 AM
(This post was last modified: 08-02-2014, 08:42 AM by felixleong.)
I think FCL is a bit too "big" now
My feel is that the thais will get rid of some assets first
the recent IPO spin out is one of such moves
The second step could be paying out of the cash to the indebt parents (since they still own over 85% of FCL, FNN also paid a lot of cash to parents)
3rd step, pumping up the free float to say 20-30% via placement or selling of stakes (they need to restore the float because they want to tap the market in the future for $$ to grow the company)
then when the dust is cleared then finally they do the swap for FNN shares (may take 1-2 years?)
above analysis just my own guessing, I may be very wrong ^^
My feel is that the thais will get rid of some assets first
the recent IPO spin out is one of such moves
The second step could be paying out of the cash to the indebt parents (since they still own over 85% of FCL, FNN also paid a lot of cash to parents)
3rd step, pumping up the free float to say 20-30% via placement or selling of stakes (they need to restore the float because they want to tap the market in the future for $$ to grow the company)
then when the dust is cleared then finally they do the swap for FNN shares (may take 1-2 years?)
above analysis just my own guessing, I may be very wrong ^^