Hong Kong-listed Wheelock and Company’s stake in Wheelock Properties (Singapore) has risen to 88.17 per cent, lifted by 10.10 per cent in valid acceptances for its general offer of $2.10 per share. According to a filing with SGX, as at 5pm on Oct 1, the total number of shares owned or agreed to be acquired by the offeror and parties acting in concert with it, plus valid acceptances of the offer amounting to some 1.05 billion shares, totalled 88.17 per cent of total issued shares of Wheelock Properties. The offeror has said that it wants to privatise the company, and it needs to control at least a 90 per cent stake to secure a delisting. The offer ends at 5.30pm on Tues. OCBC Investment Research analyst Deborah Ong has a two-tiered recommendation for investors, advising those who are in-the-money to accept the offer and opt for “more attractive opportunities” such as CapitaLand and UOL.... Continue Reading