Daily Brief Singapore: Moya Holdings Asia, Keppel Corp and more

In today’s briefing:

Moya Holdings: 21 Nov EGM For Salim’s Exit Offer
Moya Holding’s EGM for S$0.092 Offer on 21 November
Weekly Deals Digest (30 Oct) – Keppel, GoTo, Fengxiang, Lifestyle, Jinke Services, Kingston, Pushpay

Moya Holdings: 21 Nov EGM For Salim’s Exit Offer

On the 14 September, Indonesian water treatment play Moya Holdings Asia (MHAL SP) announced a S$0.092/share Exit Offer from an Anthoni Salim-controlled entity. The Offer price will not be increased.
The Offer requires approval from 75% of disinterested shareholders. Tamaris and its concert parties hold 72.84%.
The Circular is now out. The EGM takes place on the 21 November. The IFA reckons the Offer is fair and reasonable.

Moya Holdings Asia (MHAL SP) released its delisting circular. The EGM to approve the delisting proposal from Tamaris Infrastructure (Anthoni Salim) at S$0.092 per share is on 21 November.
The IFA says the offer is fair and reasonable. Gateway Partners, which holds a blocking stake, will likely use the offer as an opportunity to exit an underperforming investment.
The offer price is attractive and will likely succeed. At the last close price, the gross and annualised spread for a 30 November payment is 3.4% and 45.8%, respectively.

A weekly summary of key developments across ECM and Event-Driven names tracked by us across Hong Kong, Australia, New Zealand, Singapore, Indonesia, Malaysia, Thailand, Korea, India and Chinese ADRs.
ECM developments – Blibli (1437710D IJ) priced at IDR450, Giant Biogene Holding (2367 HK) priced at the bottom of the range, GoTo (GOTO IJ)‘s upcoming lock-up expiry.
Event-Driven developments – Keppel Corp (KEP SP), Shandong Fengxiang (9977 HK), Jinke Smart Services (9666 HK), Kingston Financial (1031 HK), Lifestyle International Holdings (1212 HK), Pushpay Holdings (PPH NZ), Nitro.

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