Privatization Play

TCC1970

2022-05-25

Last Friday TTJ announce voluntary conditional cash offer at $0.23 which is 36% above the last traded price. On the surface, it seems that the boss is a Santa Claus but divingdeeper, the NAV of the company is $0.37 and with construction activity poised to gain traction in Singapore, the offer price is an opportunistic move by the boss to take it private at a steal. A broker Lim and Tan has recommended shareholder to hold for a better offer but with the boss already holding 84% ofthe shares, it does look like boss Teo is going home with a full bag of Xmas gift. Other privatization candidate like Hong Fok is also in the news recently and as long as SGX do not set a guideline on what is the minimum price the major shareholder can take the company private relative to its NAV, many more companies may follow suit to rip long termshareholders. As the saying goes, the rich gets richer, minority shareholder is always at the mercy of the Big Boss.

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Comments

MaudNelly
2022-05-25
MaudNelly
Do you feel like it's a good time to buy this stock？
BerniceCarter
2022-05-25
BerniceCarter
Minority shareholder have less right when there are something change for company.
AndreaClarissa
2022-05-25
AndreaClarissa
Please remember to add ticker when you post next time. Bro.
TKY1978
2022-05-25
TKY1978
[Miser]
PearlynCSY
2022-05-25
PearlynCSY
noted
Janice12
2022-05-25
Janice12
ok

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