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What's the grey market price for this counter? Anybody knew????
Result out - no luck ..... Hope those who got it will make good $ tomorrow.
High ROE~83.1%, ROA~35.7%, Net Margin~29%, WC=53mRMB for 2006. Really fantastic. I applied 100lots
Lan Weiguang, chairman of Sinomem, bought the business in '04. Sinomem could make gains of millions of dollars if Reyphon's proposed listing on Aug 1 proves successful. At the proposed listing price of $0.39, Reyphon, which will have an enlarged share capital of 313.8 million shares, will have a market value of about $122 million.
Sinomem, through wholly owned subsidiary Suntar Investment, currently owns 68% of Reyphon; the other 32% belongs to Blue Loft, which is co-owned by Reyphon's executive officers. Following the IPO - Sinomem will own about 52% of Reyphon, a stake worth over $60 million.
It is one of China's largest producers of gibberellic acid. I like the business. Recommend a subscribe.
hmm.... i like sinomem & feel it's one of the better managed china companies. this should also be good :)
Reyphon is seeking to raise about $26.4 million in net proceeds, through the sale of 78.6 million shares at $0.39 each. The offer comprises 2 million public shares and 76.8 million placement shares.
It produces gibberellic acids - a plant growth regulator that improves yields for crops like rice, fruits and vegetables. Gibberellic acids are naturally found in plants, and help to improve plant health - they are thus fundamentally different to chemically synthesised fertilisers, which seek to replenish the nutrients in the soil.
Li Jian Ke, an executive director at Reyphon who is also Sinomem's CTO, said Reyphon uses biological processes to ferment corn starch or other organic raw materials to produce the acids GA3, GA4 and GA7.
Over-use of fertilisers has led to environmental disasters in China, such as the widely reported algae bloom in Lake Tai at Wuxi earlier this year, said Lan Weiguang, non-executive chairman of Reyphon and chairman of Sinomem. Reyphon's products do not cause these problems, as they are expensive and sparingly used, and are better absorbed by plants, Dr Li said.
The subsidiary of Sinomem Technology is seeking its own listing. eyphon said that listing proceeds would be used to expand capacity, fund R&D, strengthen its sales network, and as working capital. There is no minimum amount which Reyphon seeks to raise. The company's pre-listing issued and paid-up share capital is $5.9m in 240m shares.
Reyphon is located in Xin'gan County, Jiangxi Province. It uses fermentation biotechnology to make gibberellic acids - which regulate plant growth - and validamycin, a plant antibiotic. With an annual gibberellic acid production capacity of 101 tonnes, it is one of China's largest producers.
Reyphon's revenue for FY06 was RMB145.3m, from RMB100.6m the year before. Profit after tax was RMB42.3m, up from RMB19.8m.
