In today’s briefing:
- Silverlake Axis (SILV SP): Voluntary Unconditional Offer
- Director acquisitions rebound after earnings reporting season
- REIT Watch – Industrial Reits maintain resilience despite sector’s slowdown
Silverlake Axis (SILV SP): Voluntary Unconditional Offer
- Silverlake Axis (SILV SP) has disclosed a voluntary unconditional offer from the Goh family and Ikhlas Capital. The default cash consideration is S$0.36, a 20.0% premium to the undisturbed price.
- The combi consideration is S$0.30 in cash and one new redeemable preference share (RPS) in the offeror, which will be mandatorily redeemed after five calendar years at S$0.18 per RPS.
- While not declared final, the offer is reasonable but not a knockout bid. The offeror is likely to use the voluntary delisting method to privatise Silverlake.
Director acquisitions rebound after earnings reporting season
- Institutions were net buyers of Singapore stocks over the five trading sessions spanning Aug 16 to 22, with S$184.7 million of net institutional inflow.
- Leading the net institutional inflow were DBS, Singapore Exchange (SGX), Sats, UOB, Jardine Cycle & Carriage, Seatrium, Mapletree Industrial Trust, OCBC, Singtel and Singapore Technologies Engineering.
- Between Aug 15 and 16, Wee Investments acquired two million shares of UOL at an average price of S$5.21 per share.
REIT Watch – Industrial Reits maintain resilience despite sector’s slowdown
- In JTC’s latest market report for the second quarter of 2024, it noted that industrial rents rose 1 per cent quarter on quarter, recording the slowest rate of increase since Q1 2022 following the Covid-pandemic recovery.
- On a year-on-year (yoy) basis, industrial rents are still up 6.6 per cent.
- Overall occupancy rates rose 0.3 percentage point to 89 per cent as new demand continues to outpace supply increases.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
