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SBK and ICBC

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Kappie
Contributor
I`m still new in this game,will someone please explane to me what this will do to the current SBK share price and the SSF price if this is implemented on the 3 March. "Standard Bank (SBK) and the Industrial and Commercial Bank of China (ICBC) confirmed that all of the regulatory and shareholder requirements for the transaction between them to proceed had been fulfilled. " "The last day to trade in Standard Bank shares in order to receive the scheme consideration is 22 February and the transaction will be finally implemented on 3 March 2008. Under the scheme, ICBC will acquire 11.11% of the aggregate issued ordinary share capital of Standard Bank Group from existing Standard Bank Group ordinary shareholders at a price per share of 136 rand. "
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9 REPLIES 9
SimonPB
Valued Contributor
basically any shares you hold in SBK on close on 22 feb will see you sell 11.1% at R136. On the SSF's you will receive extra SSFs's and/or cash post the deal.
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pirates
Contributor
simon historically sbk declare a dividend for year end results in the first or second week in march..will it be the same this year and if so what would be your estimate on the dividend be
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SimonPB
Valued Contributor
12 March I think, no idea what it will be, but I would suppose larger then last March?
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Kappie
Contributor
Does this mean you should try and collect as many shares as possible before Friday to benefit from the 11.1% deal. Do you think the share price will fall after this goes thru?
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SimonPB
Valued Contributor
honestly don't know what'll happen to the SBK price after friday.
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pirates
Contributor
what a pleasure first the china buyout then a dividend...
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Stij
Contributor
Surely Friday's price will already fully reflect the benefit of the buyout and monday's price will drop by the value of this benefit(assuming all other factors/perceptions unchanged) like when a share goes ex-div.
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platsak
Super Contributor
Simon. Any news on how SSf contracts will be handled.
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SimonPB
Valued Contributor
Stij, well no as it isn't a dividend or payment from SBK.

platsak, as per above. Exact calcs will only be known on Monday.
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