Global Special Situations

Charles Nave

Event-Driven

Shortly we will see the circular regarding Parkson Retail's acquisition of a 67% stake in PRA SP from Parkson Holdings Bhd &nbsp;(PKS MK).Before such time it's important to review how this transaction will look to&nbsp;long only holders of Parkson Retail and those looking at the arb.

Shortly we will see the circular regarding Parkson Retail's acquisition of a 67% stake in PRA SP from Parkson Holdings Bhd &nbsp;(PKS MK).Before such time it's important to review how this transaction will look to&nbsp;long only holders of Parkson Retail and those looking at the arb.

Parkson Retail (3368 HK):  Birth of a HoldCo

Parkson Holdings (PKS MK) have announced another corporate action / streamlining of their structure following the listing of Parkson Retail Asia's (PRA SP's) in late 2011.In a nutshell, we see PKS MK selling their 67% stake in PRA SP to their 53% owned Parkson Retail Group (3368 HK).&nbsp;I love the cleaner structure, however, am&nbsp;not entirely convinced they will put the cash to good use. &nbsp;I am also unconvinced that their unlisted operations will drive any meaningful return in the near future. &nbsp;Hence, would not expect any material uplift in the share price over the short-medium term.

Parkson Holdings (PKS MK) have announced another corporate action / streamlining of their structure following the listing of Parkson Retail Asia's (PRA SP's) in late 2011.In a nutshell, we see PKS MK selling their 67% stake in PRA SP to their 53% owned Parkson Retail Group (3368 HK).&nbsp;I love the cleaner structure, however, am&nbsp;not entirely convinced they will put the cash to good use. &nbsp;I am also unconvinced that their unlisted operations will drive any meaningful return in the near future. &nbsp;Hence, would not expect any material uplift in the share price over the short-medium term.

Parkson Holdings (PKS MK):  If Lion Group Roar and Nobody Hears it, Does it Make a Sound?

Singapore

Parkson Retail Asia Ltd. is a Southeast Asia-based department store operator with stores (including a supermarket) across Malaysia, Vietnam and Indonesia. The Stores offer a wide range of branded products.

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Parkson Retail Asia (PRA SP)

Parkson Retail (3368 HK): Birth of a HoldCo

Shortly we will see the circular regarding Parkson Retail's acquisition of a 67% stake in PRA SP from Parkson Holdings Bhd (PKS MK).Before such...

Charles Nave

Parkson Holdings (PKS MK): If Lion Group Roar and Nobody Hears it, Does it Make a Sound?

Parkson Holdings (PKS MK) have announced another corporate action / streamlining of their structure following the listing of Parkson Retail Asia's...

Charles Nave

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)