Insider knew the outcome and now play with it, either the merging is a success and force down to buy more or the merging is fail.... just my 5 sense..haha
It is not about the results. OSK is simply an asset play. It's current value of RHB and the property is already worth about RM 2.70. The question is, will the merger happen which will then push it to RM 3.20
Oh... it means posible for RHB to issue new share to buy CIMB. (dilution) due to previous Aabar's objection. However, don't you think if Aabar object that method, OLH will object another method? Will OLH agree that his RHB shares get diluted?
I think they took this route to ensure minimum premium is paid out in the takeover. In order for RHBCap to push through a sale of assets, it will need support from 75% of its shareholders. Aabar owns 21.2% of RHBCap. OLH owns 9.9%. Now these 2 major shareholders won't accept unless the deal is really exceptional.
On the other hand, RHBCap will need only 50% plus one share from its shareholders to buy CIMB Group’s business. Currently, the EPF has a 41.5% stake in RHBCap.
I cash out at 2.43 which went to 2.56. Late comer so buying price is high and so have to sell out because high risk. If I bought below 2.00 would stay on as it is a quality counter.
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Posted by SP0094701 > 2014-08-20 19:59 | Report Abuse
Thanks jazzzkk for the information ... i just new in share market...hope tomorow will raise up back again