Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Marco Low bumping terms for <a href="https://www.smartkarma.com/entities/low-keng-huat-singapore-ltd" target="_blank" data-smartkarma-citation="entities:1928:1" rel="noopener">Low Keng Huat (LKH SP)</a>'s Offer was well telegraphed. It has consistently traded through terms. Plus the IFA reckoned S$0.72/share was "not fair but reasonable".</li>
<li>Low has now upped the price to S$0.78/share and declared terms final.</li>
<li>Tendering is at 81.53%. The next close is the 13th Feb. This should turn unconditional in the next week or so.</li>
</ul>


Marco Low bumping terms for Low Keng Huat (LKH SP)'s Offer was well telegraphed. It has consistently traded through terms. Plus the IFA reckoned S$0.72/share was "not fair but reasonable".
Low has now upped the price to S$0.78/share and declared terms final.
Tendering is at 81.53%. The next close is the 13th Feb. This should turn unconditional in the next week or so.


Low Keng Huat (LKH SP): Marco Low Ups Terms

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/low-keng-huat-singapore-ltd" target="_blank" data-smartkarma-citation="entities:1928:1" rel="noopener">Low Keng Huat Singapore (LKH SP)</a> has disclosed that the voluntary conditional offer from the Managing Director has increased 8.3% from S$0.72 to S$0.78 per share. </li>
<li>The revised offer is final, but it is 10.3% below the low-end of the IFA valuation range of S$0.87 to S$0.89 per share. The final closing date is 13 February.</li>
<li>As of 13 January, the offeror represents 81.53% of outstanding shares. Satisfying the 90% minimum acceptance condition remains problematic, as the revised offer is light.</li>
</ul>



Low Keng Huat Singapore (LKH SP) has disclosed that the voluntary conditional offer from the Managing Director has increased 8.3% from S$0.72 to S$0.78 per share. 
The revised offer is final, but it is 10.3% below the low-end of the IFA valuation range of S$0.87 to S$0.89 per share. The final closing date is 13 February.
As of 13 January, the offeror represents 81.53% of outstanding shares. Satisfying the 90% minimum acceptance condition remains problematic, as the revised offer is light.


Low Keng Huat (LKH SP): VGO Bumped to S$0.78 and Declared Final

<ul>
<li>Late Friday (28th November), general building contractor <a href="https://www.smartkarma.com/entities/low-keng-huat-singapore-ltd" target="_blank" data-smartkarma-citation="entities:1928:1" rel="noopener">Low Keng Huat Singapore (LKH SP)</a> ("LKH") announced a voluntary conditional Offer from Dato' Marco Low Peng Kiat, LKH's controlling shareholder (54.13%).</li>
<li>Low is offering S$0.72/share, a so-so 17.1% premium to undisturbed, but a decade-high price. Plus the share price is up 104% YTD. Recent results (to 31st July) were also underwhelming.</li>
<li>The Offer has a 90% acceptance hurdle condition. Low does not intend to maintain listing. The price hasn't been declared final, possibly leading to a bump in the home stretch. </li>
</ul>


Late Friday (28th November), general building contractor Low Keng Huat Singapore (LKH SP) ("LKH") announced a voluntary conditional Offer from Dato' Marco Low Peng Kiat, LKH's controlling shareholder (54.13%).
Low is offering S$0.72/share, a so-so 17.1% premium to undisturbed, but a decade-high price. Plus the share price is up 104% YTD. Recent results (to 31st July) were also underwhelming.
The Offer has a 90% acceptance hurdle condition. Low does not intend to maintain listing. The price hasn't been declared final, possibly leading to a bump in the home stretch. 


<ul>
<li>
<a href="https://www.smartkarma.com/entities/low-keng-huat-singapore-ltd" target="_blank" data-smartkarma-citation="entities:1928:1" rel="noopener">Low Keng Huat Singapore (LKH SP)</a> has disclosed a voluntary conditional offer from the Managing Director at S$0.72 per share, a 17.1% premium to the last close price. </li>
<li>While the offer represents an all-time high, it is below net asset value (implying a P/NAV of 0.91x). It is also light compared to precedent transactions. </li>
<li>The offer price has not been declared final. A bump may be needed to satisfy the 90% minimum acceptance condition.</li>
</ul>



Low Keng Huat Singapore (LKH SP) has disclosed a voluntary conditional offer from the Managing Director at S$0.72 per share, a 17.1% premium to the last close price. 
While the offer represents an all-time high, it is below net asset value (implying a P/NAV of 0.91x). It is also light compared to precedent transactions. 
The offer price has not been declared final. A bump may be needed to satisfy the 90% minimum acceptance condition.


Low Keng Huat (LKH SP): Conditional VGO at S$0.72 May Need a Bump

Asia Real Estate News Tracker, Asia Real Estate Tracker

Asia Real Estate Tracker

Asia Real Estate News Tracker

Tracking developments across Asia's regional real estate markets

Thematic (Sector/Industry)

<ul>
<li>Hines has completed the acquisition of a Singapore mall from CapitaLand REIT for $332 million.</li>
<li>Vietnam's BW Industrial has announced a significant $120 million development partnership to expand operations.</li>
<li>Goldman Sachs has strengthened its Japan real estate team by appointing PAG veteran Komori to lead initiatives.</li>
</ul>


Hines has completed the acquisition of a Singapore mall from CapitaLand REIT for $332 million.
Vietnam's BW Industrial has announced a significant $120 million development partnership to expand operations.
Goldman Sachs has strengthened its Japan real estate team by appointing PAG veteran Komori to lead initiatives.


Asia Real Estate Tracker (15-Jan-2026): Hines to acquire Singapore mall for $332M.

Singapore

Low Keng Huat is a diversified group engaged in property development, building construction, hotels, and investments. The company develops and invests in properties, and owns and operates hotels, serviced apartments, and restaurants. It was established in 1969 and is headquartered in Singapore.

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Low Keng Huat (LKH SP)