In today’s briefing:
- The Widjaja Family’s Tilt For Sinarmas Land: This Needs A Bump
The Widjaja Family’s Tilt For Sinarmas Land: This Needs A Bump
- The family trust of the Widjaja Family has made a voluntary unconditional general Offer for the 29.7% in Sinarmas Land (SML SP) not held.
- The S$0.31 cash Offer (not declared final) for the (mainly) Indo property play is a 12.9% premium to last close; but a 73.9% discount to Sinarmas’ 1H24 NAV of S$1.19/share.
- The Offer is unconditional in all respects. Trading a spread through terms. This deserves a bump.
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