Post Reply
1-11 of 11
trading on 8 aug,eve of national day..will this sttk be below ipo price/grey mkt what price..anyone?
Oop....sori. Aug 6th, 2007 is Monday..
Closing on August 6th, 2007 (12 noon-Tues)
Oop..correction, should be a total of 68,000,000 shares on offer instead of 38 mil.
Worthy to subscribe base on it low PER and on a total of 38 million share on offer. Very difficult to get.
| |
Mkt conditions..fragile. IPO price premiums...thinning as well. Trade with care! |
Issue prise - 0.50c. For Invitation Statistics...See page 32-33...is 8.9 times it PE Ratio.
3,000,000 mil for public
65,000,000 mil for placement
Total 68,000,000 shares is on offer
Closing on August 6th, 2007 (12 noon-Tues)
Trading expected is on August 8th, 2007 (9.00 am) (See page 17...)
Market Capitalization - 134.0 million based on post invitition of 268,000,000 shares.
| Underwriter: |
CIMB-GK Securities Pte. Ltd. |
Registered Date: |
27/07/2007 |
|
Issue Manager: |
CIMB-GK Securities Pte. Ltd. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
List of Associated Documents |
|
|
| Date |
Document Type |
Document(Click to view/download) |
Document Status |
| 27/07/2007 |
Prospectus |
3(a) Final Pros Clean.PDF (6821 Kb) |
Registered |
|
market conditions are fragile.IPO price premiums are thinning as well. Trade with care!
 Posted: Thu Aug 02, 2007 10:44 am Post subject: IPO-CHINA HONGCHENG HOLDINGS LTD $0.50 |
 |
|
68mil but only 3mil for public only at @$0.50-HongCheng is in apparel textile,home textile and industrial textile.Exports to...
U.S 4.53(billions.USD)
Japan 2.36
HK 0.71
Russia 0.60
UK 0.53
In 2006 total aggragate export value to top 5 destinations of PRC home textile products amount to US$12.5million excluding the abovementioned.
Alloted 10lots ..without balloting.Any comments?  ipo close mon 6aug |
|
| Back to top |
|
Posted: Thu Aug 02, 2007 7:53 pm Post subject: Good Buy? -------------------------------------------------------------------------------- TEXTILE manufacturer China Hongcheng has launched its initial public offering (IPO) for a mainboard listing. The company yesterday announced an IPO of 68 million new shares at 50 cents each. The offer, which comprises three million public offer shares and 65 million placement shares, closes at noon on Aug 6 and trading is slated to begin on Aug 8. The issue is managed by CIMB-GK. The invitation, which represents 25.37 per cent of China Hongcheng's enlarged share capital of 268 million shares, is offered at a historical price-earnings ratio of 8.9 times based on net profit for the year ended June 30, 2006 and a pre-invitation share capital of 200 million shares. The company produces products like quality cotton yarn and fabric, which are also used in the manufacture of quality home textile products such as bedding articles and accoutrements. Grey and dyed cotton fabrics accounts for about 55 per cent of its business, while production of jacquard cotton fabrics and bed linen sets contribute some 41 per cent. Grey cotton yarns account for the rest. Its products are sold in China as well as in countries like the US, Japan, Taiwan, Korea, and Hong Kong. In addition, the firm also provides contract manufacturing services of bed linen sets to its original equipment manufacturing customers like Indigo Home Inc in the US, Canada and Australia. Currently, China Hongcheng has about 420 customers in China and overseas. The company hopes to raise $30.5 million in net proceeds to expand its production capacity to strengthen its foothold in the high-end product segments. The firm will purchase additional industrial sewing machines to double its annual bed linen production capacity to a million sets by the first half of FY2008, as well as additional machines to expand its cotton fabrics capacity by 20 per cent. Part of the proceeds will go towards buying additional machinery and equipment to raise its cotton yarn production capacity by another 45 per cent. There are also plans to build a R&D centre and to purchase new facilities for R&D purposes.
60 t0 70cts gd for stagging
any more news on this? Seems not much info. The newspaper also never record this in their list.
The textile manufacturer has lodged its preliminary prospectus for a listing on the local bourse. CIMB-GK is the issue manager.
The company produces premium textile products such as quality cotton yarn and fabric, which are also used in the manufacture of quality home textile products such as bedding articles and accoutrements.
The company's net profitrose from RMB13.1m in FY05 to RMB54.9m in FY06. Revenue climbed from RMB309m to RMB430.6m.
Its products are sold in China as well as in countries like the United States, Japan, Taiwan, Korea, and Hong Kong. In addition, the firm also provides contract manufacturing services of bed linen sets to its original equipment manufacturing customers like Indigo Home Inc in the US, Canada and Australia.
