F & N    Last:1.43    -0.01

F&N

The fall is steep, the risk of holding stock at its peak. 

 

Like muddy water, debt n profit have to show transparency, while the new won F&N owner is mulling his next strategy. Players' is not taking any chances, likely to buy back cheaper after of loading.
Just sharing my thot n promoting stk/shr interest in SJ

 

The decision to keep F& N listed on SGX essentially turns ThaiBev into a holding company with three main units, F& N, Oishi and Sermsuk, says Jonathan Foster, director of special situations at Religare. He notes the Thai group has a slight history of having listed subsidiaries “it’s part of a long-term empire building. They seem to like the idea of having a Singapore-listed subsidiary, especially a blue-chip name.” He expects F& N to become the main property-based listing vehicle for the family, allowing it to inject assets and raise equity. He’s not surprised by the recent volatility in ThaiBev’s shares, noting the market had built in expectations for a private-equity-type transaction of taking F& N private and then redistributing the assets. Foster says synergies and asset redistribution will be more difficult when minority shareholder approval is needed.

 

The day before opening for trade again, yesterday it's happen. Player's took the opportunities to sell...just sharing my thot, for today trading, bear mode is stronger then bull mode.

teeth53      ( Date: 20-Apr-2013 22:57) Posted: Thk for sharing, it's thought to be going for, at least three months  as agree upon to open for windows trading period with SGX enknowledge. This trading period maybe volatile in play, a chance to let go, a chance to shot at, a chance to maintain vested interest  by BBs (esp the owner) and a chance for contra player's changing hands. Just sharing my thot n stk/shr trading interest in SJ. starlene      ( Date: 20-Apr-2013 15:41) Posted: < 10% in public hands and this minority is unlikley to sell otherwise they would have sold earlier,than wait till now,a good chance for major shareholder to push higher than place out to ensure the public float remain intact adn F& N remain listed..the Thai guy may not want to take losses since he last offered about $9.55(net of dividend is $1.43) My personal opinion only..I may be wron

 

Channel News Asia:

Shares of Fraser and Neave (F& N) slumped to a six-month low on the Singapore Exchange after the company resumed trading following a two-month halt.

Analysts attribute the drop to shareholders selling out of the property and drinks company, following the end of the takeover saga by TCC Assets and Thai Beverage.

Liu Jinshu, deputy lead analyst at SIAS Research, said: " The likelihood of new bidders coming is actually close to very low. Another reason is because it is now a very illiquid counter with less than 10 percent of its shares publicly held. So being a relatively illiquid counter, there're not many bids in the market therefore its share price succumbs to selling pressure relatively easily.”

F& N said it has until July 19 to restore its public float.

Analysts note that shareholders will await details of how TCC plans to maintain the conglomerate's listing status.

Mr Liu said: " The more common way is to issue more shares through a share issuance exercise which of course, has negative connotations to its share price, so this possibility supports this share price movement for F& N. Another strategy could be for F& N to subdivide its shares but it does not change the number of shareholders out there that it has."

Thai billionaire Charoen Sirivadhanabhakdi had emerged victorious in an intense takeover battle for F& N in February - acquiring over 90 percent of the company.

He bought shares in the firm through his TCC Assets and Thai Beverage units, and after the Singapore-listed Overseas Union Enterprise declined to match the offer by the Thais.

Shares of F& N ended Monday's session with a loss of 4.2 percent, closing at S$9.04 per share. They had traded as low as S$8.88.

Shares of Thai Beverage, which holds some 30 percent of F& N stock, rose about 6 percent to $0.60.

 

They don't want to share the 5 billion from the APB sale. They accumulated ~ 30% to vote against the former F& N board who wanted to give out some of the cash to the shareholders   as capital distribution. That's why cannot understand why they did not privatise to take the cash out now.

 

When will they share the 5 Billion...?

 

Who else will buy F& N if not Charoen? He has total power with his shareholding - who is going to take up the 5% he needs to offload to keep the listing? What is his game plan? Makes no sense!

 

F& N pricing is just acting naturally since it had gone back to listing. CS fight for control of it during the bidding war and whatever price he offered is above market premium, control premium exactly. Hence, it is naturally that F& N is drifting back to its economic value based on PE, ROE, NAV etc. Of course, cant discount CS behind the scene activity if any. 

 

 

So far, look like pesimistic players took their chances against optimistic one.

  F & N Last: Done - $9.0 Volume changing hands: 2,105,000 million shr  -0.44 cents 

 

The minority is at the mercy of the big shareholder.Same thing played out  at STXOSV,the trading px has fallen below the offeror px.Hefty loss for those still hodling and thinking of saving some brokerage fees.

 

The price falls look likely they are pushing down the price, and call for privatize at a lower rate.

cunning businessman....Rate down no advantage to them.   The minority is too weak for any threat, less then 10%. 

 

It already said that it will not privatise, think it has to sell some in order to have less than 90%. It only has a few months to do that. Another possible move is to declare dividend to unlock the cash to pay off some debts. 

 

Instead of pushing it up, it is possible that ThBev may just grab FN  from the market at a lower price for the rest of the 10% before it privatise it?

starlene      ( Date: 21-Apr-2013 23:12) Posted: With about 90%,the Thai guy unlikley to sell in open mkt..may push higher since no seller other than the minority sellers left price,may remain unchanged,but I think they may try to push up then do a pte placement...they hve up to Juky to do so

 

Thk for sharing, it's thought to be going for, at least three months  as agree upon to open for windows trading period with SGX enknowledge.

This trading period maybe volatile in play, a chance to let go, a chance to shot at, a chance to maintain vested interest  by BBs (esp the owner) and a chance for contra player's changing hands.

Just sharing my thot n stk/shr trading interest in SJ.

starlene      ( Date: 20-Apr-2013 15:41) Posted: < 10% in public hands and this minority is unlikley to sell otherwise they would have sold earlier,than wait till now,a good chance for major shareholder to push higher than place out to ensure the public float remain intact adn F& N remain listed..the Thai guy may not want to take losses since he last offered about $9.55(net of dividend is $1.43) My personal opinion only..I may be wrong teeth53      ( Date: 20-Apr-2013 14:01) Posted: ThaiBev 1st offer $8.88 cents, next and final offered is $9.43 cents ++ all the work and others money that need to put to  sucessful bid for...It is noted to say F& N it worth $11.00 dollars. Yet Chief. Mr Charoen is quite undecide yet...Three months.?. He is likely taking more advise from some big gun and mulling over his next strategy. teeth53 thot - Meanwhile trade with care on short term, till dust is clear.

 

ThaiBev 1st offer $8.88 cents, next and final offered is $9.43 cents ++ all the work and others money that need to put to  sucessful bid for...It is noted to say F& N it worth $11.00 dollars.

Yet Chief. Mr Charoen is quite undecide yet...Three months.?. He is likely taking more advise from some big gun and mulling over his next strategy.

teeth53 thot - Meanwhile trade with care on short term, till dust is clear.   

 

Hi, Can anybody kindly give advice for F& N minority investor who is still vested. What will probably happen to F& N share price? Will it drop down heavily? 

 

The Board of Directors (the " Board" ) of Fraser and Neave, Limited. (the " Company" ) wishes to announce that the Company’s shareholders, TCC Assets Limited (" TCCA" ) and Thai Beverage Public Company Limited (" ThaiBev" ) have informed the Company today that, further to their discussions with the Singapore Exchange Securities Trading Limited (" SGX-ST" ), the SGX-ST has confirmed that it has no objection to the lifting of the trading halt and to allow the Company a period of three (3) months to Friday, 19 July 2013 to restore its public float.

In light of the above, the Company will be submitting a request to lift the trading halt on the Company's shares shortly. Trading in the Company's shares is expected to resume from 9 a.m. on Monday, 22 April 2013.

The Company will update shareholders as and when it has further information regarding the restoration of the public float of the Company.

 

Appointments may not mean it would stay listed. Going private can free up resources such as money and financial reporting requirements that can be used to focus on long term goals.