In today’s briefing:
- Thai Beverage (THBEV SP) – Increasingly Streamlined SEA F&B Play
- Buyback and director filings taper off during pre-earnings period
Thai Beverage (THBEV SP) – Increasingly Streamlined SEA F&B Play
- Thai Beverage will offload its entire stake in Frasers Property Ltd to TCC Assets in a share swap for an increased share in Fraser And Neave streamlining its business focus.
- The share swap values Fraser And Neave on a par with peers which is at a significant premium to the share price but Fraser And Neave was excessively undervalued.
- Thai Beverage deserves to trade on a higher multiple given its pure-play status and a succession of recent restructurings including Serm Suk and Oishi Holdings.
Buyback and director filings taper off during pre-earnings period
- Share buybacks by primary-listed companies The five sessions also saw nine primary-listed companies conducted buybacks with a total consideration of S$4.5 million.
- With this transaction, the total proportion of shares bought back under the current mandate now stands at 1.47 per cent of the issued shares (not counting treasury shares) as of the date when the share buyback resolution was passed.
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