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Thks, usually when they advertise on newspaper the allocated lots ratio, then that morning will ring the bell to start trading ! That is so strange !!!
2day no open come, back in 2 day
How come 2day no one strike the bell at 9 am to indicate start of shorting for this counter? Are they chicken out ?
chium lor.. will drop when open.
Mercator, the shortley motleys are waiting to pounce even at 76cents
Mercator Lines (S'pore), a unit of Indian shipping firm Mercator Lines, raised about $205 million after pricing its IPO at the bottom of its indicated range, according to a Bombay Stock Exchange announcement on Tue.
Mercator Lines (S) Ltd sold 270.19 million shares at $0.76 each, compared with a range of $0.76 to $0.94 a share, ahead of a trading debut set for 14/12.
The firm also allocated US$39 million worth of shares to holders of convertible bonds. The company has said in its prospectus that it plans to raise funds to expand its business by acquiring vessels, investing in maritime companies and partially redeeming its bonds.
pratik, pls carefully read the prospectus again. IT is stated clearly there has been no prior public trading of the shares of Mercator Lines (Singapore). We are talking about a primary listing (not secondary listing) of Mercator Lines (Singapore) on the SGX. Are you talking about the share price of the Parent (MLL in India?) of Mercator Lines (Singapore)? They are different listings in that case.
i think mercator is a good buy in singapore.. the stock is trading at Rs 137 in india which is abt SGD 5.25. Also over the next few years, they will be getting a lot of coal contracts into india thru their sources at attractive levels.
... sticking my neck out to make a sell call on Mercator.
For the interested who want to invest in dry-bulk shippings, my recommendations are STX-PanOcean and Courage Marine.
Cheers.........
anybody who study marine business?care to share your view..my layman view 1.tis looks new to me "India to China" 2."fresh" bud agst other marine -potential stock... i think [caveat emptor]
Mercator Lines (Singapore) Ltd launched its IPO at a maximum price of $0.94 each. The offer will be a combination of an international placement and public offering. About 259 million shares will be placed out to institutional investors while the remaining 10 million will be offered to the public or reserved for Mercator's directors, management and other related parties. The company aims to raise about US$239.5 million from the offer.
Mercator will use US$124.1 million to acquire a very large ore carrier (VLOC) from its India-listed parent Mercator Lines Ltd. Another US$115.4 million will be used mainly for business expansion through vessel acquisitions or strategic investments in maritime companies, while about 10% of this amount will be used for general corporate uses.
Mercator is a leading Indian-owned, Singapore-headquartered international dry bulk shipping company focused on India and other high growth markets, like China. It specialises in transporting coal to India, and iron ore from India to countries such as China, Japan and South Korea.
I have many negative feelings on Mercator. Expensive valuations, high level of debts, low cashflows, expecting low growth in 2008 and moderate in 2009 if VLOC is delivered on schedule. Why pay so much to convert VLCC to VLOC with 10 years remaining life (about 50% of ipo money will be used to pay for that conversion). Also, there is an unknown, according to Company, whether a Shipowner will litigate against Mercator for a grounded vessel in May 2007. Company said there would be no insurance cover if litigation were to happen.
With new ships more costly these days and ships less than five years even more expensive than new-builds, it is not easy for small company like Mercator to find good acquisitions. I have a naked feeling most of the remaining if unused ipo money may eventually be used to pay off the series B bonds and other debts.
Does anyone else has positive feelings on Mercator. I would like to hear from you.
A unit of Indian shipping firm Mercator Lines has set an indicative price range of $0.76 to $0.94 a share, a source said on 28/11.
Mercator Lines (S) Pte Ltd has said in its prospectus that it plans to raise funds to expand its business by acquiring vessels, investing in maritime companies and partially redeeming its bonds.
A source close to the deal said that the company plans to offer 270 million shares in the IPO, which is likely to be priced in the middle of Dec. If it exercises the over-allotment option it may raise as much as US$200 million, the source said.
Mercator Lines (S) earlier this year sold US$51 million in convertible bonds in Singapore to raise funds for expansion. Mercator also has an offshore business in Singapore.
Merrill Lynch and Deutsche Bank are lead managers for the IPO.