re: mulpha offer grossly undervalues.. Mulpha thought that they would welcome a new manager as Singaporean holder blocking management, but GHG have shown to be good managers, and with NTA of $1.33 the sp is clearly way undervalued.
l have a target of $1 - $1.14.
BNB gave their 15% to Mulpha with the proviso of them getting min 25%, so if Mulpha does not raise the offer price the shares will go back to BNB, so Mulpha will need to offer over $1 if they want to hold onto that stock which they got at 85c, so l feel an offer of $1.15 would be likely if they want to proceed.
GHG have yet to respond to the offer, so that will be interesting - do they want to sell out ? are they looking for another buyer ? Market re-rating underway in any case, the only direction is up.
GHG
grand hotel group
