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Nick, don't be dishearten, maintain your title, shorting vanguard, he he. Venture is a good counter for both long and short. The only thing needs to observe is that, like other counters as well, players don't apply the same technique everytime. Their opponents are mainly small timers. Poker players same same.
hee....ok..let it go up abit b4 SHORTING !!..
damn...licking my wounds over my Venture SHORT yyester :((
Wrong timing, and the name sound like Giro, it will suck up all the $$$ ! Be careful.
Open underwater !!!!
If it list Fri, the opened price may not be promising, just like today's one, the Erata, bag's coy. Hence, watch out loh. Cheers.
Based on the total Offering size of 145,000,000 Offering Shares and total valid applications for 151,090,000 Shares (comprising 8,092,000 Offer Shares and 142,998,000 Placement Shares), the Offering is approximately 1.04 times subscribed.
Its offer of 145m new shares at $0.60 each comprises 2m shares for public subscription and 143m shares for placement. The shares offered represent 15.34% of its enlarged share capital of 945m shares.
The company intends to recommend and distribute dividends of not less than 20% of its FY08 and FY09 net profits attributable to shareholders. Between FY2004 and FY2006, its net profits grew at a compounded annual growth rate of 87.7%, from RMB54.8m to RMB193m. For the first 9 months of FY07, it achieved a 56.6% growth.
The company expects net proceeds of $80.5 million from the IPO. Intended uses of the proceeds include funding, advertising and promotional activities, broadening its sales and distribution network, and expanding production capacity.
Short or Long decision, are much depended on the first trading day on IPO. AK standard for IPO is that once I got balloted for some shares, I will immediately sell them for good.
I think of shorting this burger on debut 'cause don't like names like Zaino (sound like Zai-lo or to fall down) and DAPAI (sound like to be trampled badly).
What the rest of shortbros think... worth a short here?
For more info.....
http://masnet.mas.gov.sg/opera/sdrprosp.nsf/36858ca0bf0879fb48256b4500285a82/76AD69E6016885CE4825742600263B9B/$File/Prospectus.pdf
China Zaino designs, develops, manufactures and sells backpacks and luggage under its proprietary DAPAI brand. It leads the pack as the No. 1 backpack company in China by revenue. Its double-strapped backpacks enjoyed a market share of 35.8% in '06.
It has won awards including: "Top 500 Asia Valuable Brand Award" and "2006 Top 12 Bags Brand in China".
China Zaino has an extensive distribution network in China, with over 3,000 concessionary retail outlets in 26 provinces, municipalities and autonomous regions in China.
Based on '06 financial figures, the offer price is at a PER of 7.91x.
The IPO closes at noon Apr 16. Trading is expected to comence on the mainboard on Apr 18.
Chinese backpack maker China Zaino International said on it aimed to raise $87 million in an IPO this month. The company will offer 145 million shares at $0.60 each.