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CS Tan
4.9 / 5.0
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
calvintaneng
56,242 posts
Posted by calvintaneng > 2021-08-28 07:36 | Report Abuse
JustinLong
My reading of the current price trend of Nylex is that those who bought on rumours sold on news, maybe due to the Minority Interests (MI) not getting the full RM1 in cash.
This is very absurd and it seems to be a great value buy right now.
Nylex MI will get the RM1 in the form of:
1) 39sen/share cash distribution
2) 9sen/share cash remaining in the listed co
3) 52sen/share of Ancom share
**Ancom issued at RM1.50 so approximately 3 Nylex shares get 1 Ancom share
Cash alone (distributed + retained) is already 48sens.
The closing price today of 86 sens means you are only paying 38sen for one third of Ancom
= (38sen x 3) = RM1.14 per Ancom share. You do the math here.
Of course there may be a discount at this moment as the deal is still not voted by Nylex MI yet but the price should eventually converge to RM1 in the coming months.
No reason for MI not voting for it as without the deal Nylex would most likely be "stuck" without this value unlocking exercise.
Will continue to accumulate this stock as well as Ancom for the coming few months to vote for the deal.
03/05/2021 9:36 PM
jwinter3 JustinLong... Great clarity indeed. Time for accumulation.
12/05/2021 9:21 AM
JustinLong Market giving Nylex shares a discount to the RM1 value now due to the board yet to announce acceptance of the offer. Once it is announced sometime estimated in June, then discount should narrow and share price should gradually rise to RM1 nearing the EGM.
Ancom just dipped below RM1.50 now which is a no-brainer buy as their Q4 should be better than Q3 + the ongoing inflation theme on commodities. MCO3.0 really caused panic selling across the board.
Perfect time to add position.
19/05/2021 10:34 PM
THE MATHS SHOW THAT THE BEST PROXY BUY TO ANCOM IS NYLEX
BY BUYING NYLEX AT 82 SEN THERE IS A LOCK IN DISCOUNT TO ANCOM BY 10% TO 15% LOWER ENTRY PRICE
If Ancom could rise above Rm2.00 to Rm3.00 as forecasted then buying Nylex at such discounted price is a no brainer