Ucp Share Discussion Threads

[sailing john] 13/12/2012 19:01

Whibbled - good find

Thanks for posting

SJ

[tez123] 12/10/2012 21:08

Yeah sorry about that will remove posts.

ATB

[whibbled] 12/10/2012 20:20

@ tez123

WRONG BOARD ??

This is the UCP board.

[whibbled] 21/9/2012 15:04

Wonder if Brookfield aquired more shares on 31 August or 3 September.

We shall probably know in five or six months time !

[scburbs] 21/9/2012 14:43

Good to see the share price ticking up on news of a purchase 6 months ago! Brookfield seem to have been rather tardy with their disclosure.

"Unitech Corporate Parks Plc ("UCP" or "the Company") received notification on 20 September 2012 that on 15 March 2012 Brookfield International Bank Inc. (formerly Trilon International Inc) acquired 4,000,000 ordinary shares in UCP ("Ordinary Shares") representing 1.1% of the Company's issued share capital at a price of 30p per share.

...

Following this transaction Brookfield International Bank Inc is interested in 56,955,005 Ordinary shares representing 15.82% of UCP's issued share capital."

[whibbled] 04/9/2012 18:42

Expect further RNS(s)??.......MEGA Purchases on 31 August and 03 September

[scburbs] 04/9/2012 17:48

A sizeable buy from Nectrus. However, it is disappointing that they are picking up so many shares off market.

[sailing john] 13/7/2012 16:09

On the move again - nice timing HC1
Quiet thread - I like that
GL - SJ

[hydrocarbon1] 27/6/2012 08:46

Jut bought in this morn - modest 20,000 shares.
next 4 weeks should be interesting.

[cgequityinvest] 24/5/2012 08:06

Will be interesting to see what happens over the next few weeks. The figure mentioned of $541m equates to £345m. UCP 60% share of this is £207m which equates to 57p per share.

Based on the last letting data the price would equate to 11 times rental income on these properties- i.e. yield of circa 9%.

The cash would allow UCP to pay a special divvy and then build out/sell remaining properties. This assumes any buyer only takes the three properties which are more substantially let rather than the whole of UCP.

[whibbled] 23/5/2012 17:32

Blackstone Rumour.............


Blackstone May Buy-Out Unitech in Noida, Gurgaon SEZs

Another Unitech.com / Ajay Chandra cunning plan afoot ??












EDIT: Apologies scburbs.... You posted whilst I was putting this together!

[scburbs] 23/5/2012 17:15

Unitech, India's No. 3 property developer, on Wednesday denied a newspaper report that it was in talks to sell three of its assets for about 30 billion rupees ($541 million) to US private-equity firm Blackstone.

"Unitech said the report was "factually incorrect" and that the company was not in discussions with either Blackstone or any other investor to sell the assets.

A newspaper report said Unitech was in talks to sell three of its assets – two special economic zones (SEZs) in the northern Indian cities of Gurgaon and Noida, and a technology park in Kolkata – to Blackstone.

The assets are owned by Unitech Corporate Parks, in which Unitech has a 45 per cent stake, the report said, adding that the assets sale was part of Unitech's plan to reduce its debt of about 53 billion rupees ($956 million).

"Unitech is focused on developing and leasing these SEZs," the company said in a statement."

[scburbs] 18/5/2012 19:27

Seriously large (7m) share purchase by Nectrus, now approaching 10%.

[scburbs] 27/4/2012 14:51

Signs of buyers appearing if UCP can get the assets let. With UCP valuing the assets using capitalisation rates of 11.5-12% means that if they could sell them at 8-9% then the uplift would be very significant. If they could achieve this on one asset (G2) then such a validation of the business model should boost the share price significantly.

"Real estate-focused private equity funds are putting a good chunk of their fresh investments in India in pre-leased commercial development projects, including IT Parks and special economic zones (SEZs), as they look for guaranteed returns from these investments.

...

According to Sharik Currimbhoy, CEO of Element Capital Advisors, a real estate investment advisory, "There has been a substantial shift in the way funds are being deployed in real estate assets as money is now flowing towards pre-leased commercial buildings. The ticket size for these projects is much higher than investments in residential or early-stage development assets. Most of the funds are targeting returns of 11.5-12 per cent, which would include forex risks and these funds plan to stay invested for 5-7 years."

In such a transaction, a fund buys out a developer's entire or majority stake and if there is a debt tied with the asset, the fund pays it off and acquires the asset. On the other hand, most of the developers with ready commercial assets on their books use lease rental discounting as a favoured method to raise money from banks.

Private equity funds are expecting returns of 10-12 per cent through these transactions with a capitalisation rate of 8-9 per cent in the next 3-5 years. They expect the capital value of properties to increase and thus provide better secondary exits. The rationale is clear as in India, lease terms are negotiated every three years and there is 15 per cent incremental rise in rental values. PE funds are, therefore, expecting that these assets will eventually provide total returns of 15-18 per cent."

[scburbs] 17/4/2012 07:47

"India unexpectedly slashed its benchmark interest rate by half a percentage point, seeking to bolster growth with the first reduction since 2009. Inflation might limit the room for further cuts, the central bank said.

Governor Duvvuri Subbarao lowered the repurchase rate to 8 percent from 8.5 percent, the Reserve Bank of India said in a statement in Mumbai today. The outcome was predicted by three of 25 economists in a Bloomberg News survey. Seventeen expected a 0.25 percentage-point cut and the rest predicted no change."

[whibbled] 05/4/2012 21:41

Unitech in talks to raise Rs 1,100 crore by leasing office space in Gurgaon

NEW DELHI: Real estate firm Unitech Ltd is in talks with various financial institutions to raise around Rs 1,100 crore through lease rent discounting (LRD) of office buildings in its Gurgaon SEZ, which is a part of AIM-listed Unitech Corporate Parks.

The money will be used by the company over the next 12-18 months for construction of assets within the UCP portfolio, which includes five SEZs and one IT park in NCR and Kolkata. The Gurgaon SEZ currently has two million sq ft of ready space and another 1.6 million sq ft is under construction.

"We will increase the pace of construction in these assets by about 50% now," said Ajay Chandra, managing director of Unitech, which owns 10% of UCP. While Unitech Corporate Parks holds 60% stake in the assets, including this SEZ, Unitech directly holds 40% shares, as a result of which its effective shareholding in the SEZ is about 45%.

Unitech has been considering selling a part of Unitech Corporate Parks' assets to reduce its debt further but the board of the AIM-listed entity is against the sale currently as it wants to further lease the space, which would help in realising better value when the sale happens.

"The plan to sell the assets is not totally off. The UCP board wants to sell but they feel the desirability for the assets will increase if there is higher leasing. They want the assets to be more mature before selling," said Chandra, adding that leasing activity has been strong in recent months and UCP is leasing close to two million sq ft space annually.

In recent times, while interest among corporates to take space for expansion of their businesses has been low, Unitech has benefited from many corporates wanting to consolidate their office at one location in order to bring in efficiencies and reduce costs.

The five SEZs in the UCP portfolio will have a total of 17 million sq ft of space when completed. At the moment, four million sq ft has been completed and leased, another two million is leased but under construction and the rest is under different stages of construction.




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One comment made on the above article............

"Sudeep (New Delhi)

If Unitech claimed that they could raise 11,000 crores, perhaps that would push their stock an inch or two further in the next trading session. Nevertheless, still very high-hoped statements for a company spiralling rapidly downward in face of multiple scams and blantant incompetence."

[horndean eagle] 19/3/2012 10:26

Overhang getting cleared rapidly. HBSC got shot of over 20m shares last week. Be interesting to see where they ended up. My bet would be Brookfield were the buyer. Shouldn't be long before we find out.