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
- 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
- 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
