Aspial CEO's buying of LCD shares keeps market guessing
But analyst does not expect Lum brothers to raise offer price
AS shareholders lament the 17-cent-a-share buyout offer for LCD Global Investments by the Lum brothers, some market observers are speculating that the chief executive officer of Aspial Corporation could ride in as the white knight to these investors.
Market debate about Aspial CEO Koh Wee Seng's intentions was sparked by his recent purchases of shares in the hospitality player. Mr Koh, who has been accumulating LCD shares since last month to become a substantial shareholder, has raised his stake to 14.37 per cent by June 12.
Given his aggressive open-market purchases at prices ranging from 20 cents to 27 cents per share, substantially higher than the buyout offer, some market watchers are saying that this could signal a counter-bid.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Starbucks points to weaker consumer as profit falls
Trump social media firm's rising shares pressure short-sellers: S3
Oil eases on higher US crude output, hopes of Israel-Hamas ceasefire
Europe: Stoxx ends lower as auto giants weigh; investors parse inflation data
US: Wall Street stocks fall as markets weigh strong wage data, Fed meeting
Carnival’s Princess brand revises 2025 world cruise routes amid Red Sea tensions