Swiber cheap buy for Oil & Gas Play

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11 years 4 months ago #14329 by yeng
In a disclosure to the Singapore Exchange, the Board of Directors of Swiber Holdings Limited announced that the Group is exploring options to establish Islamic Trust Certificates Programme to broaden and deepen its investors’ pool.

This is a prelude to the Arabs investing in Swiber?

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10 years 11 months ago #17385 by pine
PROPOSED OFFER OF S$256.2 MILLION FOR SWIBER’S ENTIRE 57.5% EQUITY STAKE IN KREUZ

 Proposed acquisition by SEA9 Pte. Ltd., an investment-holding company

 Offer of S$0.80 in cash for each share in Kreuz Holdings Limited (“Kreuz”) represents an attractive premium of approximately 78.4% over Kreuz’s NAV per share

 Swiber expected to record a net gain of approximately US$90.6 million

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10 years 11 months ago #17387 by pine
Swiber stock price will rise tomorrow!

Pity no special dividend from the proceeds :(

Use of Proceeds : " The Net Aggregate Consideration from the Proposed Disposal will be used as working capital to fund the operations of the Group's core businesses and also to undertake future business expansions, acquisitions and new investment opportunities that may arise in the future. "

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10 years 11 months ago #17391 by 1.618
Haha if Swiber not selling to them... :)

stock may go back to normal levels

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10 years 11 months ago #17401 by Poh
Teck Chuan: I personally think it's great news. Swiber's investment in Kruez has generally been "undervalued" by the market given the discrepancies in valuation between the two.

Selling it off at a premium solidifies the market valuation of kruez and improves the cash position of Swiber. Win.

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