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Sitra Holdings IPO at $0.21

Sitra opening prices!! 10cts (more or less ::)) 33.33% on it ipo px., congrat...to lucky winner. Yahh...

 

Expecting to open high, high!!, then who will chase it higher?. those ipo happy lucky custumers (retailers) sell their few lots 1st, take profit and buy  a few hundred lots back again at higher prices. Just wondering who those big boys will pick on for other to hold on to this baby!!!.

 

Well responsed by small mainly retailers interest, no institutes interest. With 24 mil shares on offer, will it be one that can easy be corner ?. Someone out there might just do that, with a view opening price open high, high, then short it down isit?. Stag and take profit, just my view oni hohh.....Furniture lines, just trade with care if U must.

 

Hi Nos,

this one got kopi money?

 

Sitra Holdings (International) Ltd, a supplier of wood-based building materials and outdoor furniture, said it has launched its IPO of 24 mln new shares priced at $0.21 each.



The IPO comprises a retail tranche of 1.5 mln shares and a placement tranche of 22.5 mln shares. Net proceeds of $3.6 mln from the IPO will be used to expand the group's distribution channels, and fund its working capital requirements. The IPO closes on Nov 15 and trading is expected begin on Nov 17.



Sitra Holdings' net profit has risen from $574,000 in 2003 to $1.2 mln in 2004 and $1.96 mln in 2005, though in the first quarter of 2006, earnings fell to $722,000 from $794,000 the year before.