What's up with Jardine Matheson's recent stake raise in Jardine Strategic?
One advisory firm suggests that the ultimate goal of recent share buys could be a potential privatisation of Mandarin Oriental
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Tay Peck Gek
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Singapore
JARDINE Matheson's recent scooping up of shares in related company Jardine Strategic up to the free float limit has sparked speculation that there is a privatisation in the making - not of Jardine Strategic, but in a roundabout way, of Mandarin Oriental International.
Jardine Matheson has been incrementally buying shares in Jardine Strategic since the start of this year. Its latest stake as at late June is about 84.9 per cent, fast breaching the 15 per cent free float threshold allowed by the London Stock Exchange (LSE) where it is also listed.
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