Wing Tai Holdings

[propertyinvestor]

B******* CHENG FELLOW TRYING TO SCREW ALL SHAREHOLDERS BY ACQUIRING 51% OF THE COMPANY SHARES ON THE CHEAP! WTF!!!!!

[Salty]

Ascend Capital Offers S$1.39 a Share for Wing Tai Stake
2012-05-10 03:25:11.462 GMT


By Sean Collins
May 10 (Bloomberg) -- Ascend Capital is making a partial
offer for Wing Tai at s$1.39 a share, according to a statement
to the Singapore stock exchange.
* Ascend Capital offer for 68.1m shares
* Offer not a privatization exercise and SGX listing to be
maintained
* DBS Bank appointed financial adviser to offeror for partial
offer

[WolfT]

I will sell if it is >1.40 when resume...

[sgpunter]

Estimated opening price is in the region of $1.275 currently. I will reject the offer. The offer price is way too low in my opinion. Well, let's see what the appointed financial adviser says.

[money]

B******* CHENG FELLOW TRYING TO SCREW ALL SHAREHOLDERS BY ACQUIRING 51% OF THE COMPANY SHARES ON THE CHEAP! WTF!!!!!

that cheng guy may be a b**t**d if he's trying to rob us.

However, if we think positively, maybe it is a very smart way to tell all other investors that "look, i think 1.18 is ridiculously undervalued, even at 1.39, it is still undervalued, but if you think otherwise, you can always tender your shares to me at 1.39, i will be willing to accept it."

It is a much more efficient way than doing share buyback on the open market. I wont sell any of my shares at 1.39 though. if around 1.60, i will be more open to the idea

[valuehunter]

Given the offer price, my opinion is that not many shareowners will be willing to bite especially since there is no intention to seek delisting.

[old friend]

What does partial offer to minority shareholders means?

Thanks!

[egghead]

I'm curious about the intention. What is it that Cheng WK cannot do now with Wing Tai that makes him want to do this partial offer.

[money]

What does partial offer to minority shareholders means?

Thanks!

It should mean than the boss is willing to pay $1.39 for each share you own, up to 15% of your holdings. Eg. if you have 100 lots, he will buy 15 lots from you for 15 x $1390. It is still subjected to approval though

[yeokiwi]

What does partial offer to minority shareholders means?

Thanks!

If you have 10000 shares, you are given a offer to sell 1500 shares at $1.39 to the offerer.
You will keep the rest of the 8500 shares.