Post removed.Why?

Post removed.Why?

Why bother with Sterpro. look at Pmetal, it is flying

Latest news from Edge:

It is understood that Lim intends to take IWCity private under the new proposal.

“Essentially, what the new proposal tries to achieve is to privatise IWCity. It is a good investment deal for Ekovest as the RM1.50 offer price represents a 60% discount over the open market value of IWCity. The issuance of new shares at a premium of 28% to Ekovest’s current market price is also a good deal for Ekovest,” a source familiar with the proposed deal told The Edge Financial Daily yesterday.

The source said IWCity has an indicative open market value of RM3.68 billion.

This implied that the 62% IWCity stake Ekovest is acquiring is worth some RM2.3 billion or RM4.44 per share, which means that the offer price of RM1.50 per share or RM777.84 million is a 66% discount to IWCity’s indicative market value.

Can a merger be successful when botak lim's shareholding in IWCTIY is excluded from the merger? When two companies merged, one of the companies which is IWCITY will disappear. The fact that Botak lim is still retaining his IWCITY shares means that there is no 100% merger. Don't make sense. More likely via acquisition of IWCITY in exchange for cash or Ekovest shares.

Faimao, depending on the wording of the proposed merger document, the listing status of IWCITY would still be there if Ekovest could not persuade enough Iwcity shareholders to sell or exchange for Ekovest shares. Anyway, Botak lim is not selling his IWCITY shares.

In the past, Botak Lim tried to buy IWCITY on the cheap but was not successful. This time round, I doubt he will succeed unless market tank and all IWCITY will be glad to give him at RM$1.50

Buy both ekovest and IWCITY now. Good opportunity. Ekovest is buying IWCITY at a discount as Iwcity is worth more than RM2 billion. (remember the small parcel of land to China developer) It is worth more than IWCITY buyout price of RM1.5 So they are buying at a discount. If share swap, even better for Ekovest as Ekovest share is valued at RM1.5 as compared to current market price RM1.00 Great for Ekovest.

For IWCITY, sharesholders should not sell unless it is RM$1.5 above as revalued NTA is more than RM$1.5 That is why botak lim is not selling his IWCITY shares to Ekovest. Reason is to prevent dilution in his holding of IWCITY which is worth much more. He is an insider. He knows a lot we don't know. He knows IWCITY land bank is worth a lot more that is not reflected in the current market price of IWCITY. He is getting Ekovest to buy IWCITY on the cheap as he is a major shareholder of Ekovest.

For IWcity shareholders who are holding the shares longterm, don't sell as the listing status of IWCITY will still be there. IWCITY by itself is worth much more than RM$1.50 (Botak lim is not selling why would you want to sell)