FE Orchard

FE Orchard: the recent run up is likely driven by the rapid share price gains of Yeo Hiap Seng. Recall, FEO has proposed to give a 12ct cash div and distribution -in-specie involving 0.229 YHS share per 1 FEO share. Therefore, every $1 increase in YHS share price translates to $0.229 increase in FEO's implied value.