Home Capital Stocks To Watch

Yanlord's offer for UE is not priced to attract acceptances — but what if it does?

Goola Warden
Goola Warden11/1/2019 07:00 AM GMT+08  • 6 min read
Yanlord's offer for UE is not priced to attract acceptances — but what if it does?
SINGAPORE (Nov 4): On Oct 25, Yanlord Land Group announced that it had acquired the 51% in Yanlord-Perennial Investment (Singapore) that it did not own and renamed the company Yanlord Investment (Singapore). Of this 51%, 45% belonged to Perennial Real ­E
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

SINGAPORE (Nov 4): On Oct 25, Yanlord Land Group announced that it had acquired the 51% in Yanlord-Perennial Investment (Singapore) that it did not own and renamed the company Yanlord Investment (Singapore). Of this 51%, 45% belonged to Perennial Real ­Estate Holdings, and 6% to Heng Yue Holdings. In the process, Yanlord took over the stakes of United Engineers owned by PREH and Heng Yue, raising Yanlord’s stakes in UE and WBL Corp to 35.27% and 29.9% respectively. (WBL is owned by UE.)

At a price of $2.60 per UE share and $2.5947 per WBL share, Yanlord paid $202.68 million to Perennial and $27.02 million to Heng Yue.

Yanlord’s increased stake in UE has triggered a conditional general offer for the 412.7 million shares in UE it does not own. Hence, Yanlord is offering the shareholders of UE $2.60 apiece for their shares.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now