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trading starts on 21 dec thursday, so results should be released before trading starts right?
thanks. i will take note of your comments on china energy.
China Energy Ipo Grey Mkt +20c to +24c. Results u can check on internet, CDP a/c at http://www.cdp.com.sg/main/index.shtml after 5pm 30/12/06 and or on your bank a/c less one lot at $830/-, for two lots less at $1,660.00 and so on...Best of luck to all lucky invester. Yahh. Good for a stag..anything more a bonus.
Hi, does anyone know the results of the IPO? where can i check the results?
thanks. happy holidays everyone :)
Seem like a good IPO to subscribe, any recommendation?
PE is pretty high @ 24.4 times; maybe high growth potential.
Seems to be in the same business as Jiutian
Since DME is extracted from coal; direct substitute for oil, so will do well if the oil price is expensive. any comments?
Also, no creativity in naming the company; so simple put CHINA and energy togther.
It has priced its IPO at $0.83 a share, at the top of the indicative range, the company said in its prospectus on Wednesday. This means the firm would raise about $207 million in the IPO.
China Energy has also increased its total offering size to 220 million new shares and 29 million vendor shares because of strong demand for the IPO, a banker involved in the deal said. The revised total offering would be equal to 20% of the firm's enlarged share capital and would value the company at more than $1 billion.
Initially, the company had offered to sell 16% of its enlarged share capital, and had set an indicative range of $0.54 to $0.83 a share for the IPO, sources said.
It will launch its IPO of 248.81 mln shares priced at $0.83 each tomorrow. The IPO consists of 240.81 mln placement shares and 8 mln for retail investors. Of the total to be issued, 219.90 mln are new shares.
The company said the expected net proceeds of about $171.1 mln will be used to expand its dimethyl ether (DME) production facilities
and capacity. It plans to increase its DME production capacity to
600,000 metric tons per annum by the first half of next year from
150,000 mtpa currently, and to about 2.5 mln mtpa by the end of 2009.
The IPO will close on Dec 19, with the shares expected to start trading on Dec 21.
China Energy reported net profit of RMB84.6 mln in the first half of this year.
The IPO has been heavily oversubscribed.
The $160 million IPO has been heavily oversubscribed and is due to be priced next week, a source involved with the deal said on Tuesday.
"The order book is looking very good, multiple times covered," the source said. "It is more than 10x covered."
The IPO would be priced on Dec. 13. ABN AMRO Rothschild
Chemicals producer China Energy Ltd.'s IPO is expected to raise as much as $157 million, sources close to the deal said on Monday.
The company is currently on a roadshow and has set an indicative price range of $0.54 to $0.83 a share, the source told Reuters. A second source said the IPO would be priced on Nov. 29 in New York.
China Energy plans to sell 176 million new shares and 13 million vendor shares, the sources said. The total of 189 million shares to be sold is equivalent to about 16% of the enlarged share capital. If priced at the top end of the range, the company would have a value of $976 million.
ABN AMRO Rothschild is the lead manager for the IPO.
China Energy Ltd. said in its prospectus that it is the country's largest producer of Di-Methyl-Ether (DME), an alternate fuel for liquefied petroleum gas. It produces DME and methanol in Linyi, in China's Shandong province.
The company plans to use the IPO proceeds to acquire an additional production facility, to boost existing capacity and for working capital needs.
It plans to boost its DME production capacity to 600,000 tonnes per year by the first half of 2007, from 150,000 tonnes per year currently following an acquisition.
The vendor shares are being sold by a group of investors who provided US$15 million in financing arranged by UOB Venture Management, a unit of UOB.
Altogether, 24 Chinese companies have raised a total of $882 million in Singapore IPOs in the first 10 months to Nov. 6 -- up from $369 million raised by 20 companies last year -- according to data firm Dealogic.
The company is currently on a roadshow and has set an indicative price range of $0.54 to $0.83 a share, the source told Reuters. A second source said the IPO would be priced on Nov. 29 in New York.
China Energy plans to sell 176 million new shares and 13 million vendor shares, the sources said. The total of 189 million shares to be sold is equivalent to about 16% of the enlarged share capital. If priced at the top end of the range, the company would have a value of $976 million.
ABN AMRO Rothschild is the lead manager for the IPO.
China Energy Ltd. said in its prospectus that it is the country's largest producer of Di-Methyl-Ether (DME), an alternate fuel for liquefied petroleum gas. It produces DME and methanol in Linyi, in China's Shandong province.
The company plans to use the IPO proceeds to acquire an additional production facility, to boost existing capacity and for working capital needs.
It plans to boost its DME production capacity to 600,000 tonnes per year by the first half of 2007, from 150,000 tonnes per year currently following an acquisition.
The vendor shares are being sold by a group of investors who provided US$15 million in financing arranged by UOB Venture Management, a unit of UOB.
Altogether, 24 Chinese companies have raised a total of $882 million in Singapore IPOs in the first 10 months to Nov. 6 -- up from $369 million raised by 20 companies last year -- according to data firm Dealogic.