Wayang Clause : Global Logistics Properties Perpetual
From a reliable source : If anyone is worried about the GLP perpetual being called, DON’T.
The Change of Control clause was a sham in the first place because there was NO MAJORITY SHAREHOLDER !
The clause was obviously put there as an assurance to bond investors which does not really work because there was no 50% stake by any entity including GIC who was only holding just 49% !
Parring their stake down to 36% with the sale of a >12% stake, does not trigger anything !
Do you have any idea about the latest pricing of GLP? I’m seriously contemplating to buy either GLP or DBS 4.7% as I have cash in some of my other holdings.
GLP Perp last saw 103.75/104.25. Not verified.
Recovered a bit.
I would personally take GLP over DBS. Banks suffering a bit.
To me, no hurry. All not going anywhere.