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Allgreen: Privatisation offer at $1.60 per share.

Monday, May 23, 2011

I did a piece on Allgreen Properties on 12 April 2011. It seems that I have missed the boat ... for good. Well, these things happen. Absolutely no way to tell. Congratulations to all vested.



Read the post here.


6 comments:

Data said...

My apologies if my comment in the last post caused you to hesitate. Sigh...

Btw, the offer price is at a very nice premium over the last traded price, but still below the NAV $1.67. What a great deal for everyone.

AK71 said...

Hi Data,

I assure you that it didn't. Actually, I don't even remember your comments in the last post. So, don't worry. ;)

This is a lesson in FA. If we see an undervalued stock, just buy some first. :-)

Kelvin said...

Ya i missed the boat too! Past few years have been hearing takeover bids for Allgreen, never knew it will realised today.

AK71 said...

Hi Kelvin,

I am sorry to hear that. Well, we just have to make money elsewhere, I guess. ;)

Paul said...

I have to say that Allgreen privatisation offer is one of the most generous I have seen in recent years.

Which of cos begs the question of why Kuok is offering such a huge premium. Or why the need to even privatise at all. I'm sure the compliance cost cited is not a significant expenditure.

The conclusion has to be that probably valued more and/or the prospect of the company to continue growing makes offering such a high premium now a worthwhile exercise.

Regardless, I'm happy with the huge premium offer and will gladly accept the offer. I have held Allgreen since the year it was listed and it has been a very very good investment for me.

AK71 said...

Hi Paul,

You and my mom are in the same camp: long time shareholders of Allgreen. My mom is likewise quite pleased although she still talks about getting $2.00 a share sometimes. ;)

Congratulations! :)

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