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Genting Sing
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GenSp starts to move up again
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yongjp
Member |
09-Sep-2009 17:31
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Upbeat economy? You're joking right? Anyways, why would anyone invest in Genting after this news is beyond me. Its a LOSS MAKING company trading at over $1. People keep talking about how there are more upsides. What upsides?!? Gambling license has already been priced in and we are currently in a worldwide RECESSION. Good luck to all vested and don't get burned.
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AK_Francis
Supreme |
09-Sep-2009 17:29
Yells: "Happy go lucky, cheers." |
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Right issue: 1R:5H >holding 1 lot, will hv 200shares of R. Normally, there r odd lots for trading for G SP. Its unlike those 1:1 R issue offer. Henceforth, likely 2morrow u will see something like Gent SP200 just below d mother share Gent SP. Meaning if u buy 1 lot of Gent SP200, u will be given 200shares with cost of $160.00. If your entitlement is 400shares of R, then u buy 3 lots of Gent SP200 of 600shares to round up your CDP holding of previous 400 shares loh, as 1 thousand share. Finally ds 1 thousand share will merge with d mother share, as would be reflected in your CDP acct. >get advantage of the R issue. If u r given say 5 lots of R, then double d excess R, ie 10lots of excess R, trying luck loh, esp d R is under subscrib. But even d R r fully subscribed, coy will give u few odd lots R as consolation to d die heart clients one. Cheers. |
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kuang3
Member |
09-Sep-2009 17:21
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so bro meaning the next lot i buy, i will enjoy 400 shares at 80cents and the balance of 600 shares@market price? i think this assumption is wrong, can you advise?
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risktaker
Supreme |
09-Sep-2009 17:20
Yells: "Sometimes you think you know, but in fact you dont" |
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Let me ask you a question do you think at this current price Genting rights is attractive enough for people to buy ? Rights at $0.80 a whooping $0.39 discount from $1.19. People will be chasing after the rights because of this upbeat economy. TP will still within the range of: $1.4 - $1.6 HOLD/BUY = It will be pay off well
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kuang3
Member |
09-Sep-2009 17:17
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thanks for attending to my question. so if i buy 3 more lots tomorrow, what should i do to subscribe to the rights issue?
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kuang3
Member |
09-Sep-2009 17:15
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sorry, meaning?
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vostro69
Member |
09-Sep-2009 17:14
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when you hold 5 lots, you will have the right to subscribe for the rights issue. this does not come automatically.
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kuang3
Member |
09-Sep-2009 17:13
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sorry, wrong quote!!
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cathylmg
Elite |
09-Sep-2009 17:11
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when trading resume, it shall be cum right.
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kuang3
Member |
09-Sep-2009 17:10
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bro, so meaning can just buy 400 shares?
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profitezi
Member |
09-Sep-2009 17:10
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SINGAPORE, Sept 9 (Reuters) - Casino operator Genting Singapore (GENS.SI) said it plans to raise S$1.63 billion ($1.15 billion) in a rights issue to strengthen its finances and raise cash for possible acquisitions. The firm also said on Wednesday its Resorts World at Sentosa casino development is on track, both in terms of project costs and timing, for a "soft opening" in early 2010, debunking fears of more cost overruns at its massive Singapore project. Genting Singapore's fund-raising comes as other casino firms, keen to take advantage of rising Asian stock markets are also tapping investor interest in the region's growing casino business. Las Vegas Sands (LVS.N), the world's most valuable casino firm, plans to spin off its Macau operations in a Hong Kong initial public offering to raise as much as $3 billion, while Wynn Resorts (WYNN.O) is expected to list its Macau business in the fourth quarter. [ID:nHKG366971] "The rights issue will strengthen the company's financials and put us in a strong position to tap strategic opportunities," Genting Singapore Managing Director Justin Tan said in a statement. But speculation remained strong that the issue was to address cost overruns at the Resorts World at Sentosa casino that it is building in the city-state, as AmResearch said in a research note issued before the formal announcement. "The rights issue is not necessarily a negative thing. Since the project started, there have been cost overruns," Abdul Jalil Rasheed, equities chief at Aberdeen Asset Management's Malaysia unit, told Reuters in Kuala Lumpur. Genting shares in Singapore were suspended earlier on Wednesday, while shares in its parent, the Kuala Lumpur-listed Genting Bhd (GENT.KL), dropped more than 4 percent at one stage compared with a 0.35 percent fall in the main index .KLSE, as investors reacted badly to the cash call. Genting Singapore will offer shareholders one rights share for every five held at S$0.80 per rights share, or at a 33 percent discount to the stock's last traded price. |
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kuang3
Member |
09-Sep-2009 17:09
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off topic: how i wish i bought genting when the price is still wandering at 0.25cents!! my fren asked me to buy some during that time, but i simply have no $$$. he bought 40 lots at that price, still holding now. | ||||
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vostro69
Member |
09-Sep-2009 17:08
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there will be fireworks tomorrow morning
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kuang3
Member |
09-Sep-2009 17:06
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i see, one stupid question, how are they going to trigger 80cents for the 6th lot? i mean how they can tell if i have bought additional 3 lots? sorry, very new to this, so keep asking stupid question.
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johnnytanki
Member |
09-Sep-2009 17:03
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REQUEST FOR LIFTING OF TRADING HALT 10/09/2009 9am |
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KIMPEK
Member |
09-Sep-2009 17:03
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You will entitle 400 R, because every 5 shares entitle 1 , therefore 2000/5 = 400 R | ||||
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vostro69
Member |
09-Sep-2009 17:02
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buy 3 more lots when trading resumes and you will be entitled to the rights issue.
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kuang3
Member |
09-Sep-2009 16:57
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poor me only hold 2 lots now, so I think the rights shares doesn't concern me right? any bro can confirm? |
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leoleo
Senior |
09-Sep-2009 16:56
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l think genting sp is very confident with their current price as they given right price so high. We may see the price heading north again while market re- open ...stay tuned. | ||||
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mirage
Veteran |
09-Sep-2009 16:48
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Genting Singapore plans $1 bln rights-sources
Reuters - Wednesday, September 9
* Genting S'pore on halt, Genting Bhd down 2.8 pct in KL
* Rights issue to be underwritten by about 8 banks - sources SINGAPORE, Sept 9 - Casino operator Genting Singapore <GENS.SI> plans to raise more than $1 billion through a rights issue to help fund its upcoming casino as well as build a war chest for possible acquisitions, sources said on Wednesday. "It's a big issue. Over $1 billion," a source with direct knowledge of the deal told Reuters. Genting shares were suspended earlier on Wednesday. Genting Singapore, which is about 54 percent held by Malaysian casino operator Genting Bhd <GENT.KL>, is building one of the city-state's two integrated casino resorts. It is also the largest casino operator in the United Kingdom. The rights issue will be underwritten by a group of about eight banks, including UBS <UBSN.VX>, JPMorgan <JPM.N>, DBS <DBSM.SI> and Deutsche <DBKGn.DE>, the sources said. Genting's Resorts World at Sentosa casino has been plagued by cost overruns due to the escalating price of steel and other building materials. The latest cost estimate for the casino is about S$6.59 billion , up from the S$5.2 billion price tag cited shortly after the firm won the Singapore bid in December 2006. Genting Singapore's share price has more than doubled this year. It closed at S$1.19 on Tuesday, up from 45 cents at the end of 2008. In Malaysia, Genting Bhd shares were down 2.8 percent, underperforming a 0.3 percent decline in the broad index <.KLSE>. Genting has reported losses since it listed in Singapore in December 2005 due to the cost of building its Singapore casino and writedowns related to its purchase of casinos in Britain. For the second quarter ended June, the firm reported a net loss of S$50.7 million compared with a loss of S$1.8 million a year ago. (Reporting by Saeed Azhar and Kevin Lim; Editing by Dhara Ranasinghe) |
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