{"id":94215,"date":"2018-07-19T09:53:56","date_gmt":"2018-07-19T02:53:56","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/wheelock-unit-offers-to-take-wheelock-properties-singapore-private\/"},"modified":"2018-07-19T10:03:53","modified_gmt":"2018-07-19T03:03:53","slug":"wheelock-unit-offers-to-take-wheelock-properties-singapore-private","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/wheelock-unit-offers-to-take-wheelock-properties-singapore-private\/","title":{"rendered":"Wheelock unit offers to take Wheelock Properties (Singapore) private"},"content":{"rendered":"


\nImage: Scotts Square Residences (Source: Christopher Chitty)
\nStar Attraction, a wholly owned indirect subsidiary of Wheelock and Company, has launched a voluntary unconditional general offer to take mainboard-listed Wheelock Properties (Singapore) Limited private.
\nStar Attraction, which currently owns 76.21 percent of Wheelock Properties, has presented an offer price of $2.10 per share \u2013 effectively valuing the company at over $2.5 billion.
\nExceeding the highest closing price since 2010, the offer price represents a \u201cpremium of 29.0 percent and 22.8 percent over the one-month and three-month volume weighted average price (VWAPs) up to and including the last trading day of the shares on the SGX-ST prior to the offer announcement date\u201d.
\nIt also translates to a \u201cprice-to-net asset value multiple that exceeds the historical averages over the past one, three, five and 10 years on both a cum and ex-cash basis\u201d.
\nAs such, the offer provides shareholders the opportunity to exit their entire investment within the company, which may otherwise prove difficult due to the shares\u2019 low trading liquidity, noted Star Attraction in a release.
\nSince the offer is unconditional, shareholders who accept the offer will be paid within seven business days from the date of the receipt of their valid acceptances.
\n\u201cThe offeror intends to delist the company if, inter alia, the Free Float Requirement is not satisfied,\u201d said the release.
\nStar Attraction explained that de-listing Wheelock Properties would provide it more flexibility to manage the company\u2019s business, optimise the use of its management and capital resources as well as facilitate the implementation of any operational change.
\n\u00a0
\nSenior Content Producer, Christopher Chitty, edited this story
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Wheelock unit offers to take Wheelock Properties (Singapore) private<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Image: Scotts Square Residences (Source: Christopher Chitty) Star Attraction, a wholly owned indirect subsidiary of...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-94215","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-ovB","jetpack-related-posts":[{"id":29813,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/wheelock-properties-launches-initial-batch-of-flats-in-tuen-mun-project-at-close-to-development-cost\/","url_meta":{"origin":94215,"position":0},"title":"Wheelock Properties launches initial batch of flats in Tuen Mun project at close to development cost","date":"October 13, 2016","format":false,"excerpt":"\r Wheelock Properties has released its new project Napa in Tuen Mun at a price close to development cost, amid intense competition in the New Territories where a large number of new flats are under development. 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