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Volume 102 mil done. Back to $0.033 +$0.07....
$0.035 later and in on time may eve reach $0.052 which is the OKH price fixed for acquistion.
Never say never
$0.035 later and in on time may eve reach $0.052 which is the OKH price fixed for acquistion.
Never say never
where you see the news? Don?t spread fear leyy brother
Grubber ( Date: 06-Dec-2024 11:57) Posted:
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But this reverse TO
...no cash transaction...sell coy nn become super majority of new TO COY..
VWERY WISE INDEED..
SmallSmall ( Date: 06-Dec-2024 11:12) Posted:
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sell news out
piscesmonkey ( Date: 06-Dec-2024 11:34) Posted:
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Left pocket right pocket. IPT
Buyers mostly from UOBKH
Start retrance liao
piscesmonkey ( Date: 06-Dec-2024 10:43) Posted:
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OKH Global surges 38.9% after proposed acquisition of Chip Eng Seng Construction
The company says the deal could help to revitalise the business and provide a strong financial footing for it to pursue future growth opportunities
SHARES of OKH Global : S3N +22.22% surged on Thursday (Dec 5) after the group announced that it plans to acquire Chip Eng Seng Construction for about S$118.5 million.
The counter rose 38.9 per cent or S$0.007 to S$0.025 when the market opened. Some 7.8 million shares were transacted at that time.
The share price later eased to S$0.021, still up 16.7 per cent or S$0.003 before the midday trading break. By 2.41 pm, shares of OKH Global were trading 22.2 per cent or S$0.004 higher at S$0.022, with 38.1 million securities changing hands.
No married deals were recorded, based on ShareInvestor data.
After the market closed on Wednesday, the group announced that it has entered into an agreement to purchase the entire issued and paid-up share capital of Chip Eng Seng Construction.
Chip Eng Seng Construction is the construction arm of Gordon and Celine Tang&rsquo s Acrophyte, which was previously known as Chip Eng Seng Corporation before the couple took the group private in 2023.
The initial consideration of S$118.5 million is at the lower end of the valuation range assessed by an independent valuer. The valuation of Chip Eng Seng Construction is between S$115.3 million and S$128.4 million.
OKH Global plans to pay by issuing new shares at S$0.05252 apiece. This represents a premium of about 212.4 per cent over the volume-weighted average price of S$0.01681 per share for the preceding trading day.
After the deal, Chip Eng Seng Construction&rsquo s parent company Acrophyte will hold more than 50 per cent of OKH Global.
Lock Wai Han, executive director and chief executive officer of OKH Global, said the acquisition would allow the group to &ldquo gain access to Chip Eng Seng Construction&rsquo s suite of credentials and certifications&rdquo , as well as participate in &ldquo a wider range of tenders&rdquo .
As at end-June 2024, Chip Eng Seng Construction has an order book of more than S$2 billion.
Lock also noted that the transaction could help to &ldquo revitalise the business&rdquo and &ldquo provide a strong financial footing&rdquo for OKH Global to pursue future growth opportunities.
In 2013, OKH was acquired by Sinobest Technology in a reverse takeover exercise, and was renamed OKH Global. Its operations include building construction, large-scale alteration and addition works projects, as well as property development.
But two years on, OKH Global became &ldquo heavily leveraged&rdquo and was in &ldquo a major downturn of the industrial real estate market&rdquo . In 2016, the group began divesting assets to reduce gearing and strengthen its financial position.
Currently, OKH Global&rsquo s remaining investment properties have a lease term of less than 20 years. The properties are expected to continue depreciating and decline in valuation in the medium to long term, said the group.
For the full-year ended Jun 30, 2024, OKH Global&rsquo s net profit rose 43.8 per cent to S$3.6 million, from S$2.5 million in the previous corresponding period. As at end-June, the fair value of the group&rsquo s investment properties amounted to S$77.5 million, down from S$80 million in the year-ago period.
&ldquo Furthermore, it faces a challenging outlook due to a tough macroenvironment with a large supply of multiple-user factory spaces, which are expected to have an impact on rentals in the medium term,&rdquo it added.
Assuming that the proposed transaction was completed on Jun 30, 2024, the net tangible asset per share of OKH Global would have been S$0.0367, down from S$0.0525.
It would also register a loss per share of S$0.0035, as opposed to an earnings per share of S$0.0032 if the acquisition was completed on Jul 1, 2023.
OKH Global will seek shareholders&rsquo approval for this deal at a special general meeting, which is expected to be held in the first quarter of 2025.
Powerful couple. Gordon Tang just launch an offer for Suntec REIT last night
eric998 ( Date: 06-Dec-2024 11:06) Posted:
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Then BBs already gap up to 50, market is forward looking, short term is take profits and short.
bernardc ( Date: 06-Dec-2024 10:47) Posted:
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Need to understand the impact of the combined entities, don?t think Boss wants it to be micro penny, more plans ahead should be.
Why eh? I thought online say 0.052
piscesmonkey ( Date: 06-Dec-2024 10:49) Posted:
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Yes 3.6 should be peak
eric998 ( Date: 06-Dec-2024 10:48) Posted:
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Nav no more 5cents liao. Become 3.6cents
bernardc ( Date: 06-Dec-2024 10:47) Posted:
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Near NTA, look beyond NTA,
tofudidi ( Date: 06-Dec-2024 10:37) Posted:
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That will be after reverse TO..
IN THE MEAN TIME..look like share price is going towards 5 CTS ..NAV..
GOGO GO..
eric998 ( Date: 06-Dec-2024 10:40) Posted:
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Rsi overbought. May need some retrance before go up again
Market cap still low, any chance the boss?s want to maintain healthy market cap and maybe do some shares consolidation?
Not sure issit going push up near issue price?
tofudidi ( Date: 06-Dec-2024 10:37) Posted:
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likely next stop 35/36...