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Rickmers will receive the six vessel earlier and will generate additional revenue of usd2.3 million in distributional income. so, shareholders will receive 1c more in dividends for this Q. Can anyone confirm with me?
Closed oni 2ct higher then offer px of $1.57c, oni good for long...stag lose $.
vested at 1.58.. keeping for mid-term to long term.
(more professionally writeup, from philips today)
Rickmers Maritime, a container shipping trust sponsored by Germany's Rickmers Group, will start trading on the Singapore Exchange today.
The company sold 169.68 mln shares at its initial public offering, comprising a placement tranche of 161.2 mln shares and a retail portion of 8.48 mln shares, at 1.57 sgd each. The company also sold an additional 104.67 mln shares to cornerstone investors at the same price. The cornerstone investors, which will collectively own 27.5 pct of the trust, include Fidelity Investment management, Templeton Asset Management, and UOB Asset Management.
Rickmers Maritime said earlier that it will use the proceeds to buy a fleet of five container ships with a combined capacity of 20,460 20-foot equivalent units (TEUs). It plans to double its fleet to 10 container vessels by the end of 2008, giving it a combined capacity of 40,910 TEUs.
The company sold 169.68 mln shares at its initial public offering, comprising a placement tranche of 161.2 mln shares and a retail portion of 8.48 mln shares, at 1.57 sgd each. The company also sold an additional 104.67 mln shares to cornerstone investors at the same price. The cornerstone investors, which will collectively own 27.5 pct of the trust, include Fidelity Investment management, Templeton Asset Management, and UOB Asset Management.
Rickmers Maritime said earlier that it will use the proceeds to buy a fleet of five container ships with a combined capacity of 20,460 20-foot equivalent units (TEUs). It plans to double its fleet to 10 container vessels by the end of 2008, giving it a combined capacity of 40,910 TEUs.
However, if one holds it like a FD, it's promised yield is attractive at 8.2% at 1.57 (IPO price). Rickmers family is an experienced marine logistic operator in Germany with over 100 years experience. Their long term customers include Maersk, NOL and Evergreen. They are coming to Asia cos they felt this is where the funds/resource can be found. FYI only. Not an inducement to trade.
I don't think there is grey market ! I believe this is over price and nobody hear they present any road show or whatsoever before listing.
Don't know much about this company ! It is lucky that 1st day is not sub-marine !
Anyone knows the grey market price for this stock?