In today’s briefing:
- Capitaland Ascendas REIT Placement: DPU and NAV Accretive
- Supply Squeeze Drives Up Indian Latex Prices, Sheet Range Bound
- Amara (AMA SP): Trading At Terms. Will Be Suspended At Offer Close. Tender/Sell – Or Avoid
Capitaland Ascendas REIT Placement: DPU and NAV Accretive
- CapitaLand Ascendas REIT (CLAR SP) is looking to raise at least S$500M in a private placement, to fund the acquisition of some valuable properties.
- These acquisitions will expand the firm’s portfolio exposure to Singapore and data centers.
- In this note, we comment on the deal dynamics and run the deal through our ECM framework.
Supply Squeeze Drives Up Indian Latex Prices, Sheet Range Bound
- Field latex cross INR 200 (US$2.34) mark, sheet still short of it
- Over 40% of smallholders complete rainguarding as rains set in
- Compound rubber import worries farmers, traders
Amara (AMA SP): Trading At Terms. Will Be Suspended At Offer Close. Tender/Sell – Or Avoid
- Back on the 28 April, Amara (AMA SP), a property/hotel play, announced a best-and-final conditional S$0.895/share Offer, a 27% to undisturbed and a lifetime high, from the controlling Teo family.
- This was the Family’s second attempt to take Amara private after its November 2023 best-and-final unconditional Offer at S$0.60/share as discussed in Amara (AMA SP): Teo Family’s Lifetime High Offer.
- The Offeree circ is now out. The IFA says fair & reasonable. The Offer closes on the 10th June – no extension. The Offer is unconditional in all respects.
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