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Perennial makes weak debut on SGX
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Novice13
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28-Dec-2014 16:10
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I dun think PREH will pay much dividends even they declared any dividend for this coming March 2015 as it is in needs of cash to fund its ongoing China projects. It might even needs to raise more funds through rights issue or other means to raise funds for this purpose.
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jamesng
Master |
28-Dec-2014 02:38
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Medium to long term should be fine......unless china economy had a hard landing..... Let' s see how much dividend they can pay in March 2015........ |
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katak88
Master |
28-Dec-2014 00:17
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Perennial ends at S$1.04 in mainboard debut tradingS$1.05 opening values it at S$1.2b27 Dec 5:50 AM Singapore PERENNIAL Real Estate Holdings Limited closed its debut trading on the Singapore Exchange mainboard on Friday at S$1.04, after an opening price of S$1.05 which gave it a market capitalisation of S$1.2 billion. Its new status followed a reverse takeover deal involving http://www.businesstimes.com.sg/companies-markets/perennial-ends-at-s104-in-mainboard-debut-trading |
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asphodeli
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26-Dec-2014 23:47
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Hmm not too bad, paper lost $40 thereabouts. 
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singaporegal
Supreme |
26-Dec-2014 22:58
Yells: "Female TA nut" |
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Not a good idea to do IPO in the last weeks of Dec. Trading is always quiet in the last couple of weeks of December. |
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Novice13
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26-Dec-2014 21:41
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So now where would be the direction PREH shares price go? Continue to go south or go north after its first day of disappointing debut? |
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katak88
Master |
26-Dec-2014 16:19
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26/12/2014 | Press release SGX welcomes Perennial Real Estate Holdings to Mainboarddistributed by noodls on 26/12/2014 06:26 Singapore Exchange (SGX) today welcomed Perennial Real Estate Holdings Limited to Mainboard, under the stock code, " 40S" . This follows an acquisition of a portfolio of China and Singapore assets and management businesses by St James Holdings Limited (SJHL) for a consideration of S$1.56 billion from various vendors that was satisfied by an issue of new shares in SJHL, and the renaming of the company to Perennial Real Estate Holdings Limited (PREHL). With the acquisition, PREHL is now a commercial property developer with large-scale mixed-use integrated developments in China, two of which are the largest high-speed railway commercial hubs in the country. Its properties in Singapore include Capitol Singapore, Chijmes and TripleOne Somerset. As part of the exercise, PREHL also acquired units in Perennial China Retail Trust (PCRT) which is listed on the Mainboard of SGX. It subsequently made a voluntary offer for the units in PRCT that it does not own in exchange for new shares of PREHL. By the close of the voluntary offer on 22 December 2014, PREHL had acquired 96.32% of PCRT, and had announced that it will exercise its rights to compulsorily acquire the remaining units of PCRT. Pua Seck Guan, Chief Executive Officer of Perennial Real Estate Holdings Limited, said, " The listing on the Mainboard of the Singapore Exchange marks a significant milestone for the Group. In China, the high-speed railway commercial hubs, Chengdu East High Speed Railway Integrated Development and Xi' an North High Speed Railway Integrated Development, are well positioned for growth. The portfolio is complemented by prime Singapore properties which enjoy excellent transport connectivity and will provide steady income streams. Together with the trading income from the strata sale of mixed-use projects, rental income from long-term investment properties and fee income from management business, the Group is well poised to grow its net asset value (NAV) over time. " With the listing, we have created a sizeable and diversified real estate platform which is backed by a strong consortium of sponsors who have extensive business experience and established relationships, and coupled with an experienced management team with a proven track record, the Group is committed to delivering long-term growth to shareholders." Lawrence Wong, Head of Listings, SGX, said, " We are pleased to welcome Perennial Real Estate Holdings to SGX. Its portfolio of properties and projects in Singapore and China provides an interesting mix of investment focus for our investors. We look forward to seeing more real estate companies tap Asia' s growing wealth through a listing on SGX." Shares in PREHL opened at S$1.05, giving the company a market capitalisation of over S$1.2 billion. The listing of PREHL brings the total number of real estate companies and trusts to 90, with a market capitalisation of S$173 billion. - See more at: http://www.noodls.com/view/B195262B1D9657A262F95FB05F66D5BB11F8D80B?4277xxx1419579286#sthash.bXeHwNju.dpuf |
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katak88
Master |
26-Dec-2014 16:15
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Perennial makes weak debut on SGX POSTED: 26 Dec 2014 13:14 Perennial Real Estate - which achieved its stock market listing via a reverse takeover of nightclub operator St James Holdings - made a weak debut on the main board of the Singapore Exchange, opening more than 20% below the notional value of its shares.SINGAPORE: Perennial Real Estate Holdings, whose properties include Capitol and CHIJMES, made a weak debut on the main board of the Singapore Exchange (SGX) on Friday (Dec 26), opening more than 20 per cent below the notional value of its shares. Perennial Real Estate - which achieved its stock market listing via a reverse takeover of nightclub operator St James Holdings - recently took over Perennial China Real Estate by issuing new Perennial Real Estate shares valued at S$1.3353 each. Around 11.20 am, Perennial Real Estate shares were traded at S$1.035, down from its opening price of S$1.05. Perennial Real Estate - which will have net assets of around S$2.6 billion following the completion of the Perennial China takeover and purchase of a Beijing product - is a Singapore-based real estate developer and manager headed by former CapitaLand retail chief Pua Seck Guan. Its other Singapore properties include TripleOne Somerset and the House of Tan Yeok Nee, while its China projects include the Chengdu East High Speed Railway Integrated Development and Xi' an North High Speed Railway Integrated Development. SGX said in a statement that Perennial Real Estate' s listing brings the total number of real estate companies and trusts to 90, with a market capitalisation of around S$172 billion. - CNA/av |
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