Win188hopefully Goldis can offer higher price to take over IGB as IGB's NTA at least 3.50...
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Win188hopefully IGB can go up above 2.80 in near term...
chabalang@Win188: 2.80??? Unlikely in the near term (unless another GO or a significant investment property divestment). IGB is more a 'waiting game' stock...if you expect short-term significant gains, be prepared to be disappointed. Based on share price of 2.30, dividend yield of 4.3% (assuming 10 sen p.a.) or 3.3% (assuming 7.5 sen p.a.) -> relatively decent yield for waiting.
Win188why not IGB rewards shareholders by distribute treasury shares to shareholders since IGB got 26mil of treasury shares?
shareprofitif i got a million, i'd buy all in this counter...something bound to happen
Win188shareprofit...can elaborate more about something bound to happen in IGB? thank you
fastFrom Public research report: "IGB is hopeful that its London project will be unveiled by 2H2015. The mixed project is said to have RM4.2bn in GDV. As for its 5.8-acre project in Bangkok, Thailand, the Group has plans to develop 2 blocks at this juncture with RM800 GDV. As for hotels, the Group added 1,139 rooms with the opening of 210-room Cititel Express Ipoh, 234-room Cititel Express Penang, 415-room St Giles Wembley Penang and 280-room The Tank Stream St Giles Premier in Sydney, Australia."
fastDividend per share RM0.15, current price RM2.29, dividend yield 6.6%
Win188IGB so boring....it doesn't move at all, no matter market up or down.....
860000Goldis offers to buy rest of IGB for RM3 a share Posted on 24 February 2017 - 05:38am firstname.lastname@example.org Print PETALING JAYA: Private equity investment house Goldis Bhd yesterday offered to pay IGB Corp Bhd shareholders RM3 a share, in either cash or a combination of cash and shares in Goldis, in a bid to delist IGB and make it a wholly owned subsidiary.
The offer is a 19% premium to IGB’s share price which last traded at RM2.52 yesterday, while Goldis’ illiquid shares closed unchanged at RM2.50 apiece.
Goldis said the move is to eliminate its holding company discount on IGB. IGB is currently a 73.43%-owned subsidiary of Goldis.
Goldis explained the strategic initiative will provide it with greater liberty to plan and decide on the strategic and business directions of IGB, and therefore increase its investments in a profitable group.
Moreover, both Goldis and IGB are currently required to comply with the listing obligations prescribed by Bursa Malaysia Securities for listed issuers, representing an overlap of administrative efforts and costs.
The proposed delisting of IGB arising from the proposed scheme is expected to eliminate such overlap, dispense with expenses in maintaining the listing status of IGB and redivert resources towards its core business.
Goldis detailed three options available to shareholders of IGB – cash; 30% cash + 70% Goldis shares; or 20% cash + 80% new redeemable convertible preference shares of Goldis. Shareholders with less than 100 IGB shares will be offered cash only.
Goldis plans to rename itself IGB Bhd, which stands for Ipoh Goldis Bersatu, should the scheme go through.
Goldis made a fourth quarter ended Dec 31, 2016 net profit attributable to owners of the parent of RM16.289 million compared with RM28.23 million for the corresponding quarter in 2015 on higher administrative expenses. This was on lower revenue of RM312.19 million, for the quarter compared with RM314.76 million previously.
Net profit attributable to owners of the parent for the full year ended Dec 31, 2016, however, was higher at RM165.03 million, compared with RM109.11 million for the same period in 2015. This was despite revenue for the period being lower at RM1.26 billion, compared with RM1.28 billion for the same period in the year before.
ValueseekerAny chance of a upward revision in offer price ?
860000IGB obviously worth more than RM3 but Goldis already holding quite high % of IGB. Seems quite easy to privatise IGB for Goldis
cheokywith march 5cents, it like offer for 305cents right?
nikicheongSo is RM3 final, or more possible? What if stock price hits RM3.5?
kenkenliew"Goldis, the controlling shareholder of IGB, is launching another takeover bid for the remaining shares of IGB that effectively prices IGB at RM3.00 per share. To recap, Goldis’ first attempt was back in 2014 whereby the previous offer price was RM2.88. The new bid offers c.19% premium to the last closing price. Again, we still believe the company is grossly undervalued and reckon the offer price, which is at 56% discount of our RNAV estimate, is not attractive. All told, we maintain our Outperform call and RM4.80 TP for now, which is based on 30% discount to our RNAV estimate."
Yangzheng96Any update news so far? Is IGB going to deliberate it?
invest_101The boards of Goldis and Igb are in substance the same hence I can't see why it would not be accepted. Logically this proposal would have been "deliberated" before the announcement.
It now rests on the scheme shareholder to vote and my guess is that it stands a good chance in view of the options given instead of just a straight cash offer at Rm3. Those that see value in IGB higher than RM3 can opt for Goldis shares which will be renamed IGB after the excercise, assuming it goes through.
danny123publicinvest research says d offer price rm3 , is at 56% discount to the research house revalued net asset valuation (rnav) estimate of rm 6.88- so d offer is not attractive. pl read march 6 theedge malaysia
860000to be frank, i think RM3 is a good sell... If wanna continue invest in the company, can buy goldis easily
magushow is rm3 a good sell if it represents more than 50% discount to IGB's rnav estimate as indicated? the regulators should put in place some mechanisms to prevent this kind of unfair practice by major shareholders seeking to buy assets at prices way below the assets' actual worth just because the minority shareholders are apparently powerless to do anything about it.
860000Then it means that there is opportunity to buy Goldis, where Goldis is severely undervalued. Am i right?
magustrue but goldis is very tightly held and illiquid