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Investors eye buyout premium in undervalued Singapore stocks

Bloomberg Published on Wed, Feb 08, 2017 / 10:41 AM GMT+8

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SINGAPORE (Feb 8): With more than half of Singapore equities trading below their net worth, some investors are chasing profits by buying shares in companies that may be bought out or delisted by controlling shareholders or take-over firms.

"Investors are looking for takeover candidates because prices have come off significantly," said Justin Tang, a director of global special situations at Religare Capital Markets in Singapore. "We may see an increase in delistings and takeovers this year because of this."

Global Logistic Properties, a warehouse operator, is among companies targeted for takeover by firms including Blackstone Group LP, Warburg Pincus and Hopu Investment Management, according to people with knowledge of the matter. GLP shares have risen 54% since the start of November amid reports that the company may be acquired.

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Investors eye buyout premium in undervalued Singapore stocks