folks, bear in mind this announcement is not take over the WHOLE company, it is merely buy and sell portion of the company shares, meaning to say the buyer and seller can agreed at whatever price they found suit BUT NOT necessary offer the same to others shareholder.
Korean oppa becomes Major shareholders, risks include change of management team, change in dividend payout policy etc etc, so those on board 5 stars presidential suites, pray hard the conditions of the agreement is good for the company...
It is still unclear to the public that whether CJ Korea wanted to have controlling stake or just be an investor while helping them to synergize their logistics arm in Malaysia.
The selldown today is due to non MGO trigger at rm1.45. Hence the contra sellers have to throw today.
Having said that, it is still super undervalue. With biggest logsitic in Korea as partner, and potential MGO in future (2 more % shares to trigger), extremely good bet to buy when it is low.
PS: bought at 80sen and still holding. Added 98 sens and 99sens today.
super undervalued?....haha laugh die me....everyone just bought because of the off market deal of 1.45/share la....now none for minority share holder means game over la...no more catalyst..now move next counter.....T4 will be incoming...
serve the insider traders right ....kena conned kaokao...it is clear that this deal is only for major shareholder...the price will continue to be pressured until the next few quarters prove to be good...else it is just another ordinary logistics counter
greatful...this is off market deal...there could be something sweeten things for them to pay this price...having said that..it doesn't mean the company is worth this much
This is not take over friends,its stake selling by 3 Century substantial shareholder so CJ KOREA EXPRESS will use Century as backdoor to present in South East Asia region...so Century will still listed but substantial shareholder change... RM1.45 is value that is quite high plus RM21MILLION material lig. by Nestle Malaysia
KUALA LUMPUR: Century Logistics Holdings Bhd's share price closed at 96.5 sen on Thursday after CJ Korea Express Asia Pte Ltd bought a 31.44% stake at RM1.45 a share but did not extend the offer to minority shareholders.
The premium at which CJ Korea was buying the 120.54 million shares from Datuk Phua Sin Mo, Datin Lee Lay Hun, Pamela Phua Jo Lyn and Chai Mee Young, was 40.5% above Wednesday's closing price of RM1.03.
Century Logistics' share price fell to a 94 sen when it resumed trading in the afternoon session on Thursday. There were 44.02 million shares done at prices ranging from 94 sen to RM1.04.
CJ Korea Express Asia is a member company of CJ Korea Express Corporation (CJKX), the largest logistics provider in Korea with a diversified business portfolio offering integrated logistics solutions to both local and global customers.
CJKX, which is listed on the Korea Exchange, has a market capitalisation of 4.5 trillion won (about US4.1bil) and global revenues of 5.1 trillion won (US$4.6bil) for financial year ended Dec 31, 2015. CIMB Investment Bank Bhd is the financial adviser to CJKX for this transaction.
that concludes...Game Over....next few trading days will trade sideways and price will down further due to force selling....and next week long holiday will down even more...
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
apasajalah
151 posts
Posted by apasajalah > 2016-09-08 16:37 | Report Abuse
they are buying big portions of the company shares maaa...