On Thursday morning (6May2021), I was surprised to see trading of Singapore Press Holdings(SPH) shares halted pending an important news announcement. As a shareholder, I was positively excited. Based on past experience, when a stock has been on a run-up in the months before the trading halt, the news will usually be a good one😀.
I eagerly awaited for the "good" news.
Soon, I received a news notification on my mobile phone. The word "not-for-profit" in the headline dashed my hopes. Investing and "not-for-profit" certainly do not go well. No investor will want to have anything to do with "not-for-profit" since the objective is to earn profit.
SPH is going to restructure its media business into a not-for-profit entity. Initially, I was expecting that shareholders will get something out of the deal. Normally, when a company spins off a major business, shareholders will get something back from the sales proceeds....