As from April 2013 my Journey in Investing is to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

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Wednesday, 30 June 2021

Me too: Lian Beng (3)

Read?  Me too: Lian Beng (2)

ON Monday, the Ong family which controls civil engineering and construction group Lian Beng announced a mandatory conditional cash offer at 50 Singapore cents per share, following a married deal.

The family had, through its investment holding company Ong Sek Chong & Sons, acquired nearly 5.9 million shares or about 1.2 per cent of the total number of issued and paid-up ordinary shares issued by Lian Beng Group.

Prior to the market acquisition, Ong Sek Chong & Sons and its concert parties held about 43.6 per cent of voting rights in Lian Beng. With its recent acquisition of more than 1 per cent of shares in Lian Beng, it was required to extend a mandatory offer.

The offer price represents a premium on the last traded price of 47 Singapore cents on June 11, the last trading day, the announcement said.

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Kena forced selling by Ong family! Accepted the offer via electronic form submission and switches recovered capital to cover Olam right issue. 

Bought $0.575 and mandatory offer @ $0.5 . Realized capital loss $0.25

Net gains after 13 yrs of sucking Panadols from Ong family is 1.8% annual yield. Worse than CPF OA 2.5% compound interests. KNS!


5 comments:

  1. Look at the other side, the brighter side better than keeping half salted fishes.

    Me loh!

    ReplyDelete
  2. Some newbies hear market's rumour that XYZ company going to be privatised, they go for it.

    Thinking sure make money one.

    Really sure make money?

    Same as rights issue.

    ReplyDelete
    Replies
    1. Can make some kopi money if bought before news release

      Delete
  3. I invested previously into Lianbeng. I sold out after going to their AGM. Didn't really like the management way. Anyway, I think this deal is not very shareholder friendly (depending on how you see it)

    ReplyDelete
  4. Heng ah
    Heng ah.... I averaged down during the 2020 meltdown and quickly sold.







    ReplyDelete

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