Shares & Derivatives
CapitaMalls Asia: Being offered $2.22 a share.
By A Singaporean Stockmarket Investor (ASSI)  •  April 14, 2014
I have been a CapitaMalls Asia shareholder since middle of 2011 and when I found out that the parent is offering to delist the company, I had mixed feelings. The positive is that at $2.22 per share, the offer price is fair. The NAV/share is $1.84. So, this offer is a 20% premium to book value. NAV grew 10% year on year. So, being paid $2.22 a share, it is like getting paid in advance for growth that is likely to happen in the next couple of years. The negative is that I will lose the chance to buy more of a stock which I believe was going through a period of price weakness, given the concerns about China. So, I was looking forward to accumulating with a greater margin of safety (i.e. buying at a bigger discount to NAV). Well, not going to happen now. With an IPO price of ......
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By A Singaporean Stockmarket Investor (ASSI)
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