ROBINS Soars 9% after “Central”’s Tender Offer at ฿66.5, Expecting to Hit TO Price Today!
ROBINS' share price soared 9% after “Central”’s tender offer at ฿66.50/share while analyst expects the share price to hit the price by today!
As of 11:55 on July 30, 2019, local time in Bangkok, the share price of Robinson Public Company Limited (ROBINS) was at ฿63.75/share, increased ฿3.50/share or 5.81%. The highest of the morning session as of now was ฿65.75/share (+9.1%) and the lowest was ฿63.50/share with a trading value of THB 1,213 million.
The change in today’s trading price was due to the news of Central Retail (CRC), a major shareholder in ROBINS, holding 53.83% stake, has announced a Tender Offer for ROBINS shares at ฿66.50/share.
The share price of ROBINS opened at ฿65.50/share, increased ฿5.25/share or 8.81 before lowered to ฿63.50/share.
Krungsri Securities (KSS) stated that the share price could hit Tender Offer price today. After the completion of the tender offer, CRC would delist ROBINS under its business restructuring program.
CRC will later increase capital and list on the market, subject to shareholders’ approval at the meeting on September 5. ROBINS shareholders will receive CRC shares (IPO or new shares) in return. The swap details have not been revealed, but ROBINS’ share price should rise to the Tender Offer price (10.4% upside).