sinarmas land
IFAs should hew to thinking of the market
Excessively discounting plainly visible value within a target company, and making spurious comparisons, may erode confidence in their independence and objectivity
Widjaja family’s Sinarmas Land offer closes with 98.65% resultant shareholding
The group has requested for trading to be suspended from 9 am on Tuesday
Indonesia’s Widjaja family’s Sinarmas Land offer wins 90% acceptance, triggering compulsory acquisition
The offeror is to buy out the remaining shareholders at S$0.375 a share and delist the firm
Offeror says Sinarmas Land offer price is final, extends offer period to Jun 2
As at May 18, Lyon Investments has received valid acceptances of about 24.1% of the total shares, bringing its total holding to about 94.4%
IFA’s holding company discounts in offer based on study of 11 SGX-listed mid to large-cap conglomerates: Sinarmas Land
In response to SGX queries, W Capital Markets points to previous deals, research analyst valuations; maintains such discounts are common practice
Lyon Investments ups offer price for Sinarmas Land and extends closing date
The revised offer price represents an increase of 21% or S$0.065 over the initial offer price
IFA stands its ground on valuations in Sinarmas Land offer; says methods used ‘appropriate’ and in line with practice
W Capital Markets also rejects Sias’ charge that it double-discounted asset values
Sias strongly disagrees with IFA opinion on ‘exploitative’ Sinarmas Land offer, urges offeror to revise bid
Investor watchdog says offer of S$0.31 per share undervalues company’s net assets through ‘double discount’
Sinarmas Land offer price may be hiked
While the IFA has said the offer is not fair but reasonable, its estimated range of values for Sinarmas Land shares is not much higher than the current offer price
Sinarmas Land loses free float; trading to be suspended
The offer by Lyon Investments receives valid acceptances bringing its ownership to 92.3% of shares
