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So how to apply for private placement? thru brokers at $0.6 also?
Thanks
Must apply but limit to 2 lots.Only give public 3228 lots to apply but private place is more 208379 lots, what only 2% for the public and 98% for very private placement! No rush to buy from market if you did not get the ipo unless price below 60 cents!forgave and forget, we try somthings else, there are more stock in the new FTSE china index that are more attractive and more ipo coming...maybe should ask SGX to set the rule that new ipo should at least 15% for the public as we always make up the min 1000 shareholders require to list in SGX
150% up from IPO px. It is going some where middle path to..., in %-age term to about >75%, expecting to perform like Sino, maybe better.[/quote]
Why the euphoria? May not be like Uniasia or sinostar..what happen turn out China Petrotech and/or Sky Petrol..after a while drift btw 40 to 60cts below ipo?..EDGE mag...remarks 60cts for a historical price earning ratio of 18.4 for this kind of industry is not cheap...besides China oilfield doesn't own any oilfields but makes equipment thst inject chemicals to recover oil at drilling units of old oilfields of their clients..even China PetroTech( o/s shares 244mil) 2006 pretax of 20.8mil is > than chinaoil field's gross profit of $18.6mil..anyway feel free to correct me as I'm interested in Chinaoilfield too..vested from pte placement source(HL's client)
It's related to China Oil Field IPO-ing....FYI reading oni
| teeth53 | Posted: 13-Oct-2007 18:30 |
| Vested in China Oil Field...Will let my Remiser decide as my small, small share is in trust fund, so long there is $$$ going to my a/c. STAG is oso another good option to make $$$ on this IPO |
Just for ur reading Info........extracted from....
quote="teeth53"]Sinostar $1/- ++ good, but peaking. China Oil $1/- ++ good, but not peaking yet. Just the beginning.
Tink tink China oil is better, Oil play mah, oso b'cos vested 5 lots liao.[/quote]
Don't get carried by oilfield exploration plays..see China Petrotech,also a China-based co in the oilfield exploration boast of recoverable reserves of 226.88 million barrels of oil and 14.05 billion cu ft of gas..China Petrotech biz is similiar to Chinaoil share price is only btw 61.5 - 36.5 cts for 2007.. :P quite competitve industry highly dependent on limited customer for recurrent biz..trade with care
So this is another way how ppl get the shares. thanks for sharing, Pinnacle. :)
Invitation in respect of 211,607,000 Shares of HK$0.50 each comprising 127,500,000 New
Shares and 84,107,000 Vendor Shares as follows:-
(i) 3,228,000 Offer Shares at $0.60 each by way of public offer; and
(ii) 208,379,000 Placement Shares at $0.60 each by way of placement,payable in full on application.
Kim Eng is the Principle Sub-Placement Agent. If you have account with Kim Eng, they should have some placement share available for subscription.
If you do not have account with Kim Eng, then you may have to call your broker to ask whether they have placement share available, although now is too late though.
Hi Pinnacle,
How do one get a placement? thought we can only get thru public offering?
This IPO will be covered in Money Mind this week.
Will create lots of hype and interests.
Can't get any placement, so will try my luck through public offering.
Wish me luck.
New China IPO in the oil & gas sector. China Oilfield Technology (COT) provides engineering services to oil exploration companies in Daqing, China. It has established customer relationships in the Daqing region. Proceeds from the IPO will be used to fund R&D activities, boost production capacity, expand the group's marketing network in China & overseas, and provide the group with excess capital. Post-IPO offer, the Executive Chairman will own approximately 41.7% of the group's issued and paid up share capital.
Limited, but growing customer base. COT specializes in a particular type of tertiary oil recovery technique used to extract crude oil. This technique is used by only a minority of oilfields in PRC so far, limiting its customer base, but management is betting on more PRC oilfields adopting tertiary oil recovery as the process maximizes oil extraction in a country severely hungry for oil. The group also hopes to reach clients overseas. Expanding ambitiously, it is in the process of constructing a new production complex in Daqing, with the first phase of construction expected to be completed by the end of this year.
Good growth seen in FY06 & early FY07. Revenue has been growing consistently, and was at RMB149.4m in FY06, up 115% YoY. Profits have followed accordingly, growing at an impressive 248% to RMB 97.8m in FY06. For the first 5 months of FY07, revenue grew 15% YoY to RMB34.3m, while profit rose 39.2% to RMB17.4m. Note that because of seasonality, the bulk of sales are usually recorded in the second half of the year. In addition, as its business comes in on a project basis, revenue will fluctuate depending on the size and scope of projects.
What is tertiary oil recovery? Oil recovery signifies the various processes by which crude oil can be extracted from beneath the earth?s surface. Tertiary oil recovery allows the most oil to be extracted, but has not been adopted by the majority of oilfields in the PRC. In addition, the company focuses on a specific tertiary oil recovery technique, chemical flooding, which is currently the most preferred in the PRC.
Narrow expertise. Due to the nature of its expertise, COT has a narrow range of customers, and is in fact completely dependent on its major customer ? various operating units of Daqing Oilfield Co Ltd, a wholly-owned subsidiary of PetroChina. More than 95% of its revenue is derived from these units (FY06 & 5-mth FY07) and repeat orders accounted for 98.5% of its revenue in FY06.
Better oil recovery rate. Due to the limited supply of crude oil in China, there is a growing focus on improving the oil recovery rate and production lifetime. In fact, prolonged use of a more widely used secondary oil recovery technique, water injection, is actually causing a slowdown in extraction efficiency in some of the major PRC oilfields. The tertiary recovery process is thus enjoying growing popularity within the Daqing oilfields and more slowly so in some other oilfields across the PRC. The group believes that tertiary oil recovery will play an increasingly important role in the near future.
Competition. Players in the tertiary oil recovery area are limited due to high barriers to entry (R&D cost, extensive oilfield experience, technological know-how). The group?s main competitors are Daqing Long Di Petrochemical Technology Co Ltd and Daqing City Pu Luo Petroleum Technology Co Ltd.
Yes, via ATM or internet also can :)
hi guys, I'm interested to apply for this shares, how to apply? thru ATM?
nickyng. Do you see this as a potential short target?
will this be a STACK ? hee.....
China Oilfi eld Technology Services Group Limited is a major ?one-stop? customised solutions provider of integrated tertiary oil recovery equipment and products in the Daqing oilfi eld region of the PRC. We are principally engaged in the research, development, manufacture and sales of customised integrated equipment and products that are used in enhancing the extraction of crude oil.
Our research and production facilities are located in Daqing City, Heilongjiang Province of the PRC, and we have research and development (?R&D?) facilities in Beijing as well. In October 2004, we acquired a 348,792-sqm site for the construction of a new production complex, Dafeng Industrial Park, in the Third Zone of Hi- Tech Development Zone, Daqing City. The fi rst phase of the Park is targeted to be completed by the end of 2007.
All of our products are sold directly to PRC oil extraction companies operating in the Daqing oilfi eld, which is one of the fi rst and largest oilfi elds to adopt tertiary oil recovery technology in the PRC.
With a strong emphasis on R&D and product quality, and backed by 40 full-time R&D personnel, the Group has developed various patented oil extraction equipment and technology over the years.
Indicative Date and Time Event
15 October 2007, 12.00 noon Close of Application List
16 October 2007 Balloting of applications, if necessary (in the event of oversubscription for the Offer Shares)
17 October 2007, 9.00 am Commence trading on a ?ready? basis
22 October 2007 Settlement date for all trades done on a ?ready? basis