CDL SHARE BUYBACK. HUGE UNDERVALUED STOCK . RNAV : $19.86
City Developments Limited's (CDL) CEO Sherman Kwek is not ruling out the possibility of continuing share buybacks, considering that its current share price levels is at an over 70% discount to its true value.
As at the FY2024 ended Dec 31, 2024, CDL's net asset value (NAV) stood at $10.17 per share while its revalued NAV (RNAV) stood at $17.57 per share or $19.68 per share considering its fair value taken all valuation surpluses on portfolio.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
如果持有30%至50%投票权的人在六个月内额外收购超过1%的股份，也会触发收购。
当投标人及其一致行动人持有超过50%的投票权时，必须提出自愿全面要约。
CDL seeks shareholders’ nod to buy back shares, which could raise Kwek family’s stake to 55.5%
A recent tussle for control of CDL between Mr Kwek Leng Beng (right) and his son Sherman Kwek sent the company's shares tumbling.PHOTO: LIANHE ZAOBAO FILE
Angela Tan
UPDATED APR 08, 2025, 10:26 PM
SINGAPORE – City Developments Limited (CDL), the Singapore hotel and property group that was embroiled in a recent boardroom feud, is seeking shareholders’ approval to buy back the company’s shares.
In a letter to shareholders on April 8, CDL executive chairman Kwek Leng Beng said the company is seeking shareholders’ approval at its annual general meeting on April 23 to renew a share purchase mandate.
This would allow the company to buy back up to 10 per cent of its ordinary shares from the market, as well as an additional 10 per cent of its preference shares.
This could see the Kwek family’s controlling stake in CDL increase to 55.51 per cent from 49.29 per cent as at March 10
In Singapore, a mandatory takeover offer is triggered when a bidder, alone or in concert with others, acquires 30 per cent or more of the target company’s voting rights.
A takeover is also triggered if those holding between 30 per cent and 50 per cent of voting rights acquire more than 1 per cent in additional shares within a six-month period.
A bidder and people acting in concert must make a voluntary general offer when they hold more than 50 per cent of the voting rights.
私有化有可能嗎？
因爲CDL的交易價格比RNAV價格低70%。太便宜了，不容忽視！
[Call] [Call] [Call] [Call] [USD] [USD] [USD] [USD]
ACCUMULATE CHEAP !!
Hopefully he has ideas to turn it around
Great article, would you like to share it?
.
Interesting