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Expect the 1st day trading in the range of $0.60-$0.70. Stag! Another hit & run counter.
Just wondering how much will the issue price on the 1st day of launch ... which is 26th Sept
I am very keen on this share, most likely i will snap up on the 1st day of trading
Sinostar PEC Holdings has launched its IPO. Sinostar processes raw LPG to produce downstream petrochemicals, namely propylene, polypropylene and LPG. Its products are sold in China mainly to manufacturers of petrochemicals and plastic products, LPG distributors who supply household fuel, and industrial manufacturers who use LPG as a source of fuel.
The company is offering 160.4 million shares at $0.38 each based on a historical PER of 9.64x. The $61 million IPO comprises150 million new shares and 10.4 million vendor shares. 5 million shares are for public subscription and 155.4 million for placement. Sinostar expects net proceeds of $51.9million from its new shares.
It intends to invest in a jv with one of its major suppliers to construct an upstream heavy oil conversion facility. The facility will enable Sinostar to have an aggregate processing capacity of 600,000 tonnes of raw LPG a year, up from its current capacity of 350,000 tonnes. Sinostar will have a 51% stake in the venture, while Dongming Zhongyou will own the remaining 49%.
How to get allotment? Be super rich? And/or trades actively generating good income for the broker?
given 10 lots preferential allotment
Anyone applying this???????