Daily BriefsSingapore

Singapore: SPH REIT, Grab and more

In today’s briefing:

  • SPH Offer Open – Starts to Look Interesting
  • GoTo: A Private Placement Larger Than the IPO and a 10% Potential Dilution

SPH Offer Open – Starts to Look Interesting

By Travis Lundy

  • The SPH REIT (SPHREIT SP) Chain Offer was launched on Thursday 19 May. 
  • The Chain Offer Price has been revised lower from the original level to be S$0.9372/unit, as discussed a few times in these pages. 
  • The units have underperformed Peer Baskets for the last few months and have now fallen to the Chain Offer Price. That presents opportunities

GoTo: A Private Placement Larger Than the IPO and a 10% Potential Dilution

By Shifara Samsudeen, ACMA, CGMA

  • Superapp GoTo (GOTO IJ) on Friday announced that it plans to issue 118.4bn shares through a private placement subject to shareholder approval.
  • This fresh issue accounts for 9.9% of the total outstanding shares of the company and the announcement comes 2-months after the company’s US$1.1bn IPO in March this year.
  • GoTo’s shares are down 20.4% since its IPO and the shares are trading IDR304 a piece, well below its IPO price of IDR338 per share.

Before it’s here, it’s on Smartkarma