In today’s briefing:
- Lian Beng: Circ Out. IFA (Rightfully) Says Not Fair
Lian Beng: Circ Out. IFA (Rightfully) Says Not Fair
- In response to media feedback calling out the low-balled Offer, the Ong family bumped the Offer Price for Lian Beng (LBG SP) by 9.7% to S$0.68/share and declared terms final.
- At 0.43x P/RNAV, and with the bulk of the assets related to investment/development property, the price was still wrong,
- The Circular is now out. The IFA considered terms to be not fair and not reasonable. The same opinion as in the 2021 Offer.
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