Pacific Century

Pacific Century: (S$0.445) Dismisses privatisation talks
In relation to The Business Times' article titled “Pacific Century headed for delisting?” published on 30 Apr, management has disclosed that it is not aware of any restructuring plan involving the group.

Recall Market Insight's previous posting on 27 Apr titled "Rallies 25% in two-weeks as privatization talk re-surface", the most valuable asset of Pacific Century (PCRD) is its 21.7% stake in HK-listed PCCW (8 HK).

PCCW is currently worth HK$8,361.6m ($1,436.9m), compared to PCRD's market cap of $1,218.8m. We continue to see upside from PCRD's attractive stub valuation, as well as share price support, derived from company’s active share buybacks and cancellation.