In today’s briefing:
- Sinarmas Land (SML SP): The Family Bumps Terms After All
Sinarmas Land (SML SP): The Family Bumps Terms After All
- I was wrong. In Sinarmas Land: Bumping Fades Despite IFA Opining Not Fair, I said the Offer needed a bump, but that outcome was looking less likely.
- The Widjaja family has now bumped terms to S$0.375/share, up from S$0.31/share, or a 21% increase. Terms have not been declared final.
- The IFA’s estimated fair value range for Sinarmas Land (SML SP) was S$0.350 to S$0.361/share. Expect a follow-up opinion revising their conclusion to “Fair and Reasonable” from “Not Fair but Reasonable“.
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