Hopes of higher offer price for Wheelock Properties (S) crushed

Singapore

PUNTERS banking on a sweetened deal in Wheelock Properties (Singapore)'s buyout bid had the wind knocked out of their sails on Monday, as the company's parent locked in its offer price of S$2.10 a share.

The counter - which had stayed above the offer price since Hong Kong-listed Wheelock and Co launched its privatisation attempt on July 19 - fell by S$0.07, or 3.23 per cent, to S$2.10 at the opening bell, and ended at that price.

Some 14.6 million shares changed hands in the day…