SINGAPORE (Sept 17): Many analysts and investors seem to be betting that the offer price for Wheelock Properties will be raised. The way they see it, the underlying assets of the company are worth more than the $2.10 per share that its controlling shareholder has offered to pay. As at June 30, Wheelock had a net asset value (NAV) of $2.60 per share, which is 23.8% more than the offer price. And, since the offer was announced, Wheelock’s shares have risen sharply, and are currently trading at $2.15, some 2.4% above the offer price.

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