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They are quite pissed with the current F& N share price, lol.
Thai Beverage Public Company (ThaiBev), through its indirect wholly-owned subsidiary InterBev Investment (IBIL), has proposed a share swap with TCC Assets. The proposed share swap will involve no cash outlay from IBIL or ThaiBev.
ThaiBev will transfer to TCC Assets all of its 28.78% shareholding in Frasers Property TQ5 7.5% (FPL). TCC Assets will transfer its 41.30% shareholding in Fraser and Neave (F& N) to ThaiBev. Upon completion, ThaiBev will hold 69.61% of F& N compared to 28.31% previously. TCC Assets will own 86.89% of FPL (up from 58.01%).
The proposed share swap will be executed at a ratio of approximately 1.88 FPL shares for each F& N share. This ratio was determined based on a negotiated price of $1.89 per FPL share and $3.55 per F& N share.
F& N& rsquo s valuation range took into account a sum-of-the-parts (SOTP) approach, which valued each of its component businesses by applying their respective peers& rsquo valuation multiples. This was also cross-checked against a standalone discounted cash flow valuation based on ThaiBev& rsquo s internal projections of the key businesses under F& N, interviews with management, and equity analyst and industry research reports.
FPL& rsquo s valuation range took into account, inter alia, FPL& rsquo s net asset value and latest available financial statements as at March 31 and related public disclosures, the latest market valuations of its stakes in its listed real estate investment trusts, the value of its asset management platform based on precedent transactions, applying a 20-25% discount to its revalued net asset value (RNAV), which is in line with previous privatisations of SGX-listed real estate companies by controlling shareholders.
ThaiBev has also received a ruling from the Securities Industry Council of Singapore that its subsidiary IBIL will not be required to make a general offer for F& N under Rule 14.1 of the Singapore Code on Take-overs and Mergers in connection with the proposed share swap.
IBIL and the persons acting in concert with it would not be required to extend a downstream mandatory take-over offer to acquire all the remaining ordinary shares in Fraser & Neave Holdings Berhad not already owned by F& N pursuant to Note 3 of paragraph 4.01 of the Rules on Take-overs, Mergers and Compulsory Acquisitions of Malaysia.
The directors of ThaiBev who are independent for the purposes of the Proposed Share Swap have engaged Deloitte & Touche Corporate Finance as the independent financial adviser (IFA) in relation to the proposed share swap.
On July 18, ThaiBev closed at 49 cents, FPL at 80 cents, and F& N at $1.07. Thai Beverage Public Company (ThaiBev), through its indirect wholly-owned subsidiary InterBev Investment (IBIL), has proposed a share swap with TCC Assets. The proposed share swap will involve no cash outlay from IBIL or ThaiBev.
ThaiBev will transfer to TCC Assets all of its 28.78% shareholding in Frasers Property TQ5 7.5% (FPL). TCC Assets will transfer its 41.30% shareholding in Fraser and Neave (F& N) to ThaiBev. Upon completion, ThaiBev will hold 69.61% of F& N compared to 28.31% previously. TCC Assets will own 86.89% of FPL (up from 58.01%).
The proposed share swap will be executed at a ratio of approximately 1.88 FPL shares for each F& N share. This ratio was determined based on a negotiated price of $1.89 per FPL share and $3.55 per F& N share.
F& N& rsquo s valuation range took into account a sum-of-the-parts (SOTP) approach, which valued each of its component businesses by applying their respective peers& rsquo valuation multiples. This was also cross-checked against a standalone discounted cash flow valuation based on ThaiBev& rsquo s internal projections of the key businesses under F& N, interviews with management, and equity analyst and industry research reports.
FPL& rsquo s valuation range took into account, inter alia, FPL& rsquo s net asset value and latest available financial statements as at March 31 and related public disclosures, the latest market valuations of its stakes in its listed real estate investment trusts, the value of its asset management platform based on precedent transactions, applying a 20-25% discount to its revalued net asset value (RNAV), which is in line with previous privatisations of SGX-listed real estate companies by controlling shareholders.
ThaiBev has also received a ruling from the Securities Industry Council of Singapore that its subsidiary IBIL will not be required to make a general offer for F& N under Rule 14.1 of the Singapore Code on Take-overs and Mergers in connection with the proposed share swap.
IBIL and the persons acting in concert with it would not be required to extend a downstream mandatory take-over offer to acquire all the remaining ordinary shares in Fraser & Neave Holdings Berhad not already owned by F& N pursuant to Note 3 of paragraph 4.01 of the Rules on Take-overs, Mergers and Compulsory Acquisitions of Malaysia.
The directors of ThaiBev who are independent for the purposes of the Proposed Share Swap have engaged Deloitte & Touche Corporate Finance as the independent financial adviser (IFA) in relation to the proposed share swap.
On July 18, ThaiBev closed at 49 cents, FPL at 80 cents, and F& N at $1.07.
Thai Beverage Public Company (ThaiBev), through its indirect wholly-owned subsidiary InterBev Investment (IBIL), has proposed a share swap with TCC Assets. The proposed share swap will involve no cash outlay from IBIL or ThaiBev.
ThaiBev will transfer to TCC Assets all of its 28.78% shareholding in Frasers Property TQ5 7.5% (FPL). TCC Assets will transfer its 41.30% shareholding in Fraser and Neave (F& N) to ThaiBev. Upon completion, ThaiBev will hold 69.61% of F& N compared to 28.31% previously. TCC Assets will own 86.89% of FPL (up from 58.01%).
The proposed share swap will be executed at a ratio of approximately 1.88 FPL shares for each F& N share. This ratio was determined based on a negotiated price of $1.89 per FPL share and $3.55 per F& N share.
F& N& rsquo s valuation range took into account a sum-of-the-parts (SOTP) approach, which valued each of its component businesses by applying their respective peers& rsquo valuation multiples. This was also cross-checked against a standalone discounted cash flow valuation based on ThaiBev& rsquo s internal projections of the key businesses under F& N, interviews with management, and equity analyst and industry research reports.
FPL& rsquo s valuation range took into account, inter alia, FPL& rsquo s net asset value and latest available financial statements as at March 31 and related public disclosures, the latest market valuations of its stakes in its listed real estate investment trusts, the value of its asset management platform based on precedent transactions, applying a 20-25% discount to its revalued net asset value (RNAV), which is in line with previous privatisations of SGX-listed real estate companies by controlling shareholders.
ThaiBev has also received a ruling from the Securities Industry Council of Singapore that its subsidiary IBIL will not be required to make a general offer for F& N under Rule 14.1 of the Singapore Code on Take-overs and Mergers in connection with the proposed share swap.
IBIL and the persons acting in concert with it would not be required to extend a downstream mandatory take-over offer to acquire all the remaining ordinary shares in Fraser & Neave Holdings Berhad not already owned by F& N pursuant to Note 3 of paragraph 4.01 of the Rules on Take-overs, Mergers and Compulsory Acquisitions of Malaysia.
The directors of ThaiBev who are independent for the purposes of the Proposed Share Swap have engaged Deloitte & Touche Corporate Finance as the independent financial adviser (IFA) in relation to the proposed share swap.
On July 18, ThaiBev closed at 49 cents, FPL at 80 cents, and F& N at $1.07. Thai Beverage Public Company (ThaiBev), through its indirect wholly-owned subsidiary InterBev Investment (IBIL), has proposed a share swap with TCC Assets. The proposed share swap will involve no cash outlay from IBIL or ThaiBev.
ThaiBev will transfer to TCC Assets all of its 28.78% shareholding in Frasers Property TQ5 7.5% (FPL). TCC Assets will transfer its 41.30% shareholding in Fraser and Neave (F& N) to ThaiBev. Upon completion, ThaiBev will hold 69.61% of F& N compared to 28.31% previously. TCC Assets will own 86.89% of FPL (up from 58.01%).
The proposed share swap will be executed at a ratio of approximately 1.88 FPL shares for each F& N share. This ratio was determined based on a negotiated price of $1.89 per FPL share and $3.55 per F& N share.
F& N& rsquo s valuation range took into account a sum-of-the-parts (SOTP) approach, which valued each of its component businesses by applying their respective peers& rsquo valuation multiples. This was also cross-checked against a standalone discounted cash flow valuation based on ThaiBev& rsquo s internal projections of the key businesses under F& N, interviews with management, and equity analyst and industry research reports.
FPL& rsquo s valuation range took into account, inter alia, FPL& rsquo s net asset value and latest available financial statements as at March 31 and related public disclosures, the latest market valuations of its stakes in its listed real estate investment trusts, the value of its asset management platform based on precedent transactions, applying a 20-25% discount to its revalued net asset value (RNAV), which is in line with previous privatisations of SGX-listed real estate companies by controlling shareholders.
ThaiBev has also received a ruling from the Securities Industry Council of Singapore that its subsidiary IBIL will not be required to make a general offer for F& N under Rule 14.1 of the Singapore Code on Take-overs and Mergers in connection with the proposed share swap.
IBIL and the persons acting in concert with it would not be required to extend a downstream mandatory take-over offer to acquire all the remaining ordinary shares in Fraser & Neave Holdings Berhad not already owned by F& N pursuant to Note 3 of paragraph 4.01 of the Rules on Take-overs, Mergers and Compulsory Acquisitions of Malaysia.
The directors of ThaiBev who are independent for the purposes of the Proposed Share Swap have engaged Deloitte & Touche Corporate Finance as the independent financial adviser (IFA) in relation to the proposed share swap.
On July 18, ThaiBev closed at 49 cents, FPL at 80 cents, and F& N at $1.07.
JessTrang ( Date: 18-Jul-2024 11:00) Posted:
|
Base on Thaibev past actions, high chance they will plan to delist F& N in the future.
finjungle ( Date: 18-Jul-2024 10:35) Posted:
|
Just moving the pieces on the chest board.
NO CASH involved
NO CASH involved
Trade8668 ( Date: 18-Jul-2024 10:23) Posted:
|
Look at the past few days share movement. You know it' s good news brewing.
hokpin ( Date: 18-Jul-2024 08:42) Posted:
|
Is this the first step towards delisting one of the 2 companies since they have emphasised low valuations for both companies?
SGX Penny Stocks (EW Charts by sgYuan):
thaibev week
green wc dn 430 hit 425
red wabc wc dn 430 hit 425
finally uturn at 425
SgYuan:
thaibev day
wa up 61.8 500 hit
dn 14.6 490 hold best
next fib 520
wb dn 61.8 455
thaibev week
green wc dn 430 hit 425
red wabc wc dn 430 hit 425
finally uturn at 425
SgYuan:
thaibev day
wa up 61.8 500 hit
dn 14.6 490 hold best
next fib 520
wb dn 61.8 455
Personally think this is a good move as it solidifies their core business which is in the beverage industry.
Not well verse with valuations but based on the prospectus it seems a fair valuation share swap.
Let' s see how investors respond to the news.
Not well verse with valuations but based on the prospectus it seems a fair valuation share swap.
Let' s see how investors respond to the news.
Shares Swap! Good news or bad news?
Asset Acquisitions and Disposals::Conditional Share Swap Agreement between InterBev Investment Limited and TCC Assets Limited
https://links.sgx.com/1.0.0/corporate-announcements/Z578482M9SYVPQ3F/810121_2.%20Press_Release_180724.pdf
https://links.sgx.com/1.0.0/corporate-announcements/Z578482M9SYVPQ3F/810122_3.%20Investor_Presentation_180724.pdf
https://links.sgx.com/1.0.0/corporate-announcements/Z578482M9SYVPQ3F/810121_2.%20Press_Release_180724.pdf
https://links.sgx.com/1.0.0/corporate-announcements/Z578482M9SYVPQ3F/810122_3.%20Investor_Presentation_180724.pdf
Something is brewing 😆
piscesmonkey ( Date: 18-Jul-2024 07:55) Posted:
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Wow seldom trading Halt really big news
spursfan ( Date: 18-Jul-2024 07:38) Posted:
|
Trading halt pending announcement
Hopefully today close at 0.50, will be good trajectory for the rest of the week!
At this moment, if not much negative news. Should be hover around 500 to 510.
sengkang ( Date: 15-Jul-2024 00:01) Posted:
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Must cross 50c resistance convincingly first
https://agbrief.com/news/thailand/12/07/2024/thai-integrated-resorts-bangkoks-khlong-toei-to-rival-singapores-marina-bay/
Need to take action. No point talking later she will show us 59 cents !
alanchee ( Date: 14-Jul-2024 19:05) Posted:
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About time to buy whilst hoping Mgmt will revisit IPO spinoff and govt approval of Casino.. The latter should come earlier as the govt is eager to boost the lagging economy
hitting 5 series tmr will be nice
burn the shortists!