Potential Take-Over

More
6 years 8 months ago #23928 by walterlim
Tung Lok

1. Sam Goi, founder of Tee Yih Jia, who is a substantial shareholder has been buying up shares since May this year.

2. Public float is less than 10%, which makes it easy to make an offer

3. Shares buy up has pushed prices to 52 weeks high as of today.

4. Company has been struggling to break even or make meagre profits in recent years.

5. Potential privatisation offer by Tee Yih Jia to focus on growing business instead of answering to shareholders

Please Log in or Create an account to join the conversation.

More
6 years 8 months ago #23934 by walterlim
Replied by walterlim on topic Potential Take-Over
For the past three days Sam Goi has been consistently buying up more shares of Tung Lok.

As the 10th richest guy in Singapore, there must be a reason for buying up the shares of a company even though the PE ratio indicates overvaluation at 99 times.

Ownership of the shares has hit almost 20%. With the F&B industry looking so competitive it is highly possible that Tung Lok will be privatised in due course.

Am heavily vested as I am confident of the takeover

Please Log in or Create an account to join the conversation.

More
6 years 7 months ago #23935 by walterlim
Replied by walterlim on topic Potential Take-Over
Tung Lok chairman has just announced a strategic review this morning.

Again this reinforces the notion of a potential takeover

Please Log in or Create an account to join the conversation.

More
6 years 7 months ago #23945 by Poh
Replied by Poh on topic Potential Take-Over
well done and thanks Walter. Suddenly now the liquidity is not an issue . sigh

Please Log in or Create an account to join the conversation.

More
6 years 7 months ago #23946 by walterlim
Replied by walterlim on topic Potential Take-Over
Hi,

What did you mean by liquidity is not an issue?

Anyway, share price has hit $0.215 today since they announced strategic review. Very possible that a buy over offer will materialise soon as Tee Yih Jia accumulates more shares

Please Log in or Create an account to join the conversation.

More
6 years 7 months ago #23952 by walterlim
Replied by walterlim on topic Potential Take-Over
The stock has risen almost 100% since I pointed out its potential takeover/turn around, congrats to those who ate vested

Please Log in or Create an account to join the conversation.

Time to create page: 0.222 seconds
Powered by Kunena Forum
 

We have 1173 guests and no members online

rss_2 NextInsight - Latest News