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a lot of maybe. the news will linger and have effect for a couple of days before normalisation.
Maybe another company acquires mm2 and gives dividend cum bonus with those cash...
WSJ.Shares ( Date: 24-Jul-2017 18:18) Posted:
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SINGAPORE (July 24): DBS is maintaining its ?buy? call on mm2 Asia with a target price of 75 cents despite the acquisition of a 50% share in Dartina having lapsed.
What are the chances the stocks will bouce back up?
LOL, now the company cash rich, can acquire any profitable company as they like liao....
LOL, now the company cash rich, can acquire any profitable company as they like liao....
Maybank KE Retail Research
Media conglomerate, mm2 Asia suffered a sell-off this morning after its proposed $184.3m deal to acquire a 50% stake in Golden Village' s Singapore cinema operations from ASX-listed Village Cinemas Australia (VCA) hit an impasse.
This came after Golden Screen (subsidiary of Golden Harvest), the Hong Kong JV partner of VCA, which owns the remaining 50% of GV Singapore, rejected the deal.
Completion of the deal was contingent on Golden Screen' s approval, a condition set out in mm2' s agreement with VCA. Both VCA and mm2 are now locked in discussions on the available options.
The roadblock came as mm2 appeared to have secured the required financing for the deal with a $49m share placement issue as well as a $93m convertible note.
While we like mm2' s growth story, the counter could face concerns over its deal execution in light of the apparent botched deal, and leave investors with a sour aftertaste. As such, we are taking profit on our mm2 position in Market Insight Growth basket to lock in a 56% gain since its entry in Jun ' 16.
The counter has gained 16% year-to-date, roughly in line with the STI' s 14% growth. It is currently trading at 20.4x forward P/E.
👍 🏻 Cornerstone investors are StarHub and Temasek Holdings.
Shortists' scare tactics don' t work.
Shortists' scare tactics don' t work.
beltrance ( Date: 24-Jul-2017 16:13) Posted:
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i support your view and that is why i added a bit at 0.510 this morning
SeaOfRed ( Date: 24-Jul-2017 16:01) Posted:
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Heheh, we shall see. Chartwise it looks like there' s going to be a bounce in the near term.
TP 0.56 by Thursday.
TP 0.56 by Thursday.
jack2906 ( Date: 24-Jul-2017 14:04) Posted:
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Well,on a lighter side of things, at least they live up to their ability to create drama.
jack2906 ( Date: 24-Jul-2017 14:04) Posted:
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Going to drop to 40cents but not interested in this lousy share.
Somehow don't feel the CEO is capable
dreaming... fund raised, has interest and some others processing fee imposed...
cut loss before it fall back to 0.42 from where the GV news is started...
cut loss before it fall back to 0.42 from where the GV news is started...
SeaOfRed ( Date: 24-Jul-2017 13:58) Posted:
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EGM on Thursday. BUY. Already raised more than $93m for acquisition. Even if deal doesn't go through, still cash rich for other options.
So far MM2 biz model depends a lot from using investors cash to buy profits, like buying Unusual, Malaysia cinemas and now GV cinemas (but failed). So some investors should rightfully be worried.
genting^2 ( Date: 24-Jul-2017 10:28) Posted:
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Why worry so much . it is a money making company. don' t be affected by shortists.
I think may continue its bear run til just below 50 and rise again. I think many people bought 55 cents above so panicking now.
beltrance ( Date: 24-Jul-2017 09:54) Posted:
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Would the placees like Starhub ask for refund? The investors may think this is a major con job. Never check properly with all the sellers before announcing the transcation to buy GV.
sbscap ( Date: 24-Jul-2017 09:48) Posted:
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MM2 is still a good company. Because of announced acquisition TP was raised to 75 cents but doesn't mean that without the acquisition suddenly value will drop below 50 cents. Doesn't make sense at all and drop now is just emotional reaction. Maybe even intentionally to be able to buy in lower. Still high potential stock ! My TP still 65 cents.
So what's the implications? Didn't millions already raised from share placement to bigger idiots? Oops, pardon my rudeness, placement to parties who paid 57c.