LCD Global

LCD Global: In the midst of a voluntary conditional offer of $0.17/share from controlling shareholders, Raymond Lum and David Lum, substantial shareholder- Koh Wee Seng has acquired 5.7m shares at $0.2587/share on 9 Jun, raising his stake from 13.13% to 13.68%. This is a clear indication that Koh would not be in favour of the low-ball offer by the Lum brothers, which will close on 23 Jun. As at 9 Jun, the brothers own 35.8% stake in LCD Global. At the current price of $0.26, LCD Global is valued at 19% discount to its NAV. In comparison, the recent takeover offers for Singapore Land, Hotel Properties and CapitaMalls Asia were priced at book multiples of 0.72x, 1.12x, and 1.21x respectively.