Keppel share price crashed to 11 year low
What a disaster for Keppel share price! On 24 September, Keppel share price plunged to $4.10, the lowest in the past decade. The devastating spell of value destruction must have left a bitter taste in investors’ mouth. After all, Keppel share price had enjoyed a splendid run, surging from $5.80 to $7.00 when Temasek Holdings announced $4.1 billion conditional offer to control Keppel Corp in October 2019.
Indeed, the crisis of confidence in Keppel share price is largely attributed to the bombshell announcement on 1 August 2020 by Temasek Holdings not to proceed with the partial offer for Keppel. The investment company had invoked the pre-condition of material adverse change in the Group’s financial performance and walked away from the deal.
Keppel share price in winter wonderland with Temasek Holdings
Can Keppel share price meet the great expectations of Temasek Holdings?
The dramatic turn of event had led to the collapse of Keppel share price, which fell from $5.40 to the present abysmal level. Whether the current Keppel share price represents a golden buying opportunity is subject to debate. But based on the market sentiments, this counter should be bearish for at least the next couple of months.
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