Amazing Race

[ OSK ] An indirect entry into Mega Bank?

NickCarraway
Publish date: Thu, 10 Jul 2014, 01:34 PM
NickCarraway
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DISCLAIMER :The information in this research has been obtained from sources believed to be reliable.Its accuracy, completeness or correctness is not guaranteed and opinions are subject to change without notice.This research is for information purposes only and not to be construed as a solicitation for contracts.The writer accepts no liability for any direct or indirect loss arising from the use of this research. The writer may have an interest in the securities of the company(ies)mentioned here
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OSK : An indirect entry into Mega Bank?

Last : RM 2.19

 

 

CIMB [1023], RHB Cap [1066] and MBSB [1171] have requested for the suspension of trading of their companies’ securities on 10 July 2014, pending a material announcement today.

Should a mega merger materialise and in order to go through, the takeover price for RHB Cap has to be not lower than the last transacted price from the Abu Dhabi Government to Aabar Investments at RM10.80.

RHB Cap last traded at RM8.72 (1.2x P/B) and if takeover price is RM10.80, it offers 24% upside.

Meanwhile, the 3rd largest major shareholder of RHB Cap is OSK Holdings Bhd [5053] with 9.9% stake in the former following the merger between the two being completed a year ago.

Therefore, an indirect entry into the mega bank merger should it happen will be via OSK Holdings Bhd.

So, what is OSK Holdings Bhd worth then?

 

Historical Share Price Chart of OSK Holdings Bhd

OSK (5053)
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Discussions
1 person likes this. Showing 2 of 2 comments

lyk204

Can keep OSK ?

2014-07-12 00:17

ganasai

I think high chance is the new share issue to osk by cimb, no "cash" will be return. Good for long term, but short term you dont expect any " extra dividend" for you due to this activity, unless sell off the new share.

2014-07-18 18:30

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