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Cheap sale at 0.26 closing today 12noon, pls be fast.................gray price >0.45..........
Ya, i also think tis is better than the XLX fertilzer.....
Look at Sembmarine compare weeks ago, now go up so much.
Think still got many projects to do....
When will know if we get the share at IPO? tomorrow after 6pm for POSB?
revenue=55.8(2006), 41.29(2005), 35% increase only compared to receivable = 215% increase. This is what u called channel stuffing...
Cosmosteel
Re trade receivers, think it is a plus it increased substantially in 2006 compared with 2005, presmably due to current bouyant marine business. Don't think the 2006 figure was inflated, remember coy dealing mainly with S'pore clients and reliable. Only prob, hard to get, only 1m shares offered to the public
look at propectus pg 161 appendix (dun understand why put under appendix , maybe nobody will look at . they shld put income statement , balance sheet and cash flow together for 2005, 2006),
u will see 2005(6.9m) 2006(14.9m) for trade and other receivable.
operating cash flow < net profit for the last 2 years, is a big concern. churning a lot of receivable and inventory to boost earnings just for ipo. beware...
Premium px gains is minimum with mkt deemed fuuly valued, so this China XLX fertiliser IPO px at 24x it PER Ratio has mkt-ed at 77ct " with it px -earnings and px-book valuation nearer to the upper end of historical ranges this IPO is seem on the end high end, unlike CosmoSteel at 6x it PER. with oni 1 million share for public to apply. it is ur decision and is ur $$$. U decide.....
This IPO offer 45 million shares at 26cts, 6x it's historical px to earning ratio, represent about 25.5% of CocmaSteel's enlarged share, capital of 176.2 million shares.
Open next Monday, close at 12 noon on 20 June (Wed) and shares are expected to start trading on the mainboard on June 22, 2007 (Friday).
Look like a better stock then China XLX fertiliser IPO at 24x it PER Ratio, based on PER Ratio.
This offer from Cosmosteel Holdings is launched immediately just after SinGheeHuat ipo offer at 33 cts been very successfully IPO and traded on it 1st trading day.
Now closed at $0.585 cents (a premium of $0.255 cents or a 77% in real premium profit)
Cosmo will also be another SinGheeHuat as non other ipo is on offer..
One million shares is offer to public and 44 millions shares is placemennt offered.
| Underwriter: |
Westcomb Securities Pte Ltd |
| Issue Manager: |
Westcomb Capital Pte Ltd |
It IPO offer of 45 million shares at 26cts at 6x it's historical px to earning ratio, represners about 25.5% of CocmaSteel's enlareged share, capital of 176.2 million shares.
It IPO will open next Monday, close at 12 noon on 20 June (Wed) and shares are expected to start trading on the mainboard on June 22, 2007 (Friday).
Hi,
Any idea when is the estimated IPO date and at what price ? Did a Google Search and noticed that this IPO is managed by Westcomb Financial Group, whom are also behind the
www.epublicoffer.com
Does this mean that the application is available thru internet only ? If so, better chance of getting as not everyone is familiar with internet IPO
Notice that the previous listings Swiber (also oil & marine related), Sitra and KSH managed by Westcomb are now 308%, 83% and 87% of their IPO price (based on today's closing price)
Do you know if they have placement to business associates and institutional buyers and if yes, at what price and if it is fully subscribed ?
Many Thanks
The homegrown steel pipe distributor serving the offshore and marine sectors, is seeking a listing, with plans to use proceeds to expand its product range and marketing reach.
CosmoSteel, which had revenues of about $55.9 million in the year ended September 2006, sources and distributes steel or stainless steel pipes, fittings and flanges. Its products are used mainly in offshore rig building and onshore energy facilities, as well as in shipbuilding and ship repair.
Customers include companies from the Alstom Group and Keppel Corp, as well as other smaller firms. Over the last 3 years, CosmoSteel has earned about three-fifths of revenues from Singapore-based customers. About 5% came from Europe-based customers, with the remainder from neighbouring countries Malaysia, Indonesia, Thailand and Vietnam.
