There has been a couple of news coming out from OUE Ltd as we approach towards the year end. The last article I blogged about was about the divestment of Crowne Plaza Changi Airport. A couple of days ago, the management announced that they would acquire a stake in Gemdale Properties at an issue price of HK$0.52, which represents approximately 22.97% of the enlarged issued shares of Target Company. The issue price of HK$0.52 represents a discount of approximately 16.1% to the Target Company's net tangible asset value of HK$0.62 per share as of 30 Jun 2014. The management cited the rationale for the proposed subscription to gain access and exposure to the real estate market in China through its shareholding in the Target Company as well as the opportunity to leverage on future potential collaborations and partnership. Some of the investors are not that ......