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1-20 of 20
Trading code 5NF
| Mencast |
|
|
0.235 |
0.235 |
-0.005ct |
-2.1% |
Vol: 20 lots |
10,000 |
0.235 |
0.240 |
50,000 |
0.235 |
0.235 |
Day 5 trading now... Low Vol and couple w/bad sentiment.....
| |
Mencast |
|
|
0.285 |
0.275 |
-0.015 |
-5.2 |
365,000 |
1,000 |
0.270 |
0.280 |
185,000 |
0.285 |
0.275 |
be phycological prepared when market opens 2morow. if DJ don't pull up after mid day break.
Day 2 of trading....opened at 29 & traded to a low of 27 B4 recover to closed at 28.5ct. Vol: 914 lots
| Mencast |
|
|
0.290 |
0.285 |
-0.005ct |
-1.7% |
914,000 |
108,000 |
0.275 |
0.285 |
43,000 |
0.290 |
0.270
|
Trade summary:
Why so bearish on this Made In Singapore IPO?
I am neither bearish or bullish. I m just realistic practical about recent IPO, as even good stock like Sinoconst can't goes against market sentiment.
strange didn't rcv anything from CIMP leh. nonetheless kena once on 2nd board previouly, now cautious leow.
Mencast is missing from d list, it is not listed as in cat "M"
1st traded day, closed off at 0.29ct, up 0ne(1) cents above it ipo-ed offer. Vol: 10,105 lots
| Mencast |
|
|
0.295 |
0.290 |
0.000 |
0.0 |
10,105,000 |
609,000 |
0.290 |
0.300 |
243,000 |
0.310 |
0.285 |
Traded Summary:
Good comments in BT somehow assisted the listed price, but vol is low, 10k. Gain of 1 cts heng alrdy.
Sterngear equipment maker Mencast may slip as it starts trading on SGX, mirroring lackluster performance of recent new listings as investors avoid IPO stocks amid lingering market uncertainty. Possible dismal performance seen from low subscription rate of 1.54X for IPO at $0.28 each (7.3X historical P/E).
Singapore-based maker of sterngear equipment used by shipyards will use net proceeds of $5.1 million to expand production capacity, set up plants in markets like Malaysia, Indonesia. However, interest in stock may eventually return given shipbuilding industry's strong fundamentals, as demand for ship building, repair, maintenance services remains strong.
Why so bearish on this Made In Singapore IPO? Take a look at my view at http://mytheedge.blogspot.com
teeth53 ( Date: 25-Jun-2008 09:31) Posted:
Just sharing info from...(CombineWill)....Err.....guess oni, half a ct to one ct up, then next moment come down liao, then stay below water for a while B4 staying closing to ipo-ed offer price. B4 end of trading closure more profit taking on price trading pressure. Currently D volume traded so far is too low for Memcast to support it trading above 0.28 cents. Hopefully i am cery wrong. Currently is trading at...Sell into strength. Good for STAG.
| Mencast |
|
|
0.295 |
0.295 |
0.000 |
0.0 |
5,286,000 |
699,000 |
0.290 |
0.295 |
7,000 |
0.305 |
0.285 |
|
From Combine Will...?: There is no Combine Will to buy, buy at ur one risk, guess on it's likely opening...????. price... 
Err.....guess oni, half a ct to one ct up, then next moment come down liao, then stay below water for a while B4 staying closing to ipo-ed offer price. B4 end of trading closure more profit taking on price trading pressure. Guess oni 
|
|
|
Just sharing info from...(CombineWill)....
Err.....guess oni, half a ct to one ct up, then next moment come down liao, then stay below water for a while B4 staying closing to ipo-ed offer price. B4 end of trading closure more profit taking on price trading pressure. Currently D volume traded so far is too low for Memcast to support it trading above 0.28 cents. Hopefully i am cery wrong. Currently is trading at...Sell into strength.
Good for STAG.
| Mencast |
|
|
0.295 |
0.295 |
0.000 |
0.0 |
5,286,000 |
699,000 |
0.290 |
0.295 |
7,000 |
0.305 |
0.285 |
|
From Combine Will...?: There is no Combine Will to buy, buy at ur one risk, guess on it's likely opening...????. price...
Err.....guess oni, half a ct to one ct up, then next moment come down liao, then stay below water for a while B4 staying closing to ipo-ed offer price. B4 end of trading closure more profit taking on price trading pressure. Guess oni
|
8%-10% down, same as CombineWill and SinoConst lor..guess oni ahh. guess rite no price oso.
bh704428 ( Date: 24-Jun-2008 20:32) Posted:
|
Any guess on it's likely opening price & closing price tomoro?
AK_Francis ( Date: 23-Jun-2008 11:45) Posted:
wrong timing. for sure u will get balloting ratio at least 50:50 as compared to last yr one which each IPO was not more than 9:99 and listed price gained at least 20% and above.
as mentioned in BT lately that few IPOs offered this yr, prices alrdy under water. moreover this burger is in Catalist, may not be attractive to investors loh.
your choice leow. |
|
|
|
So so oni lah.....Sama, sama...to CombineWill and SinoConst lor.
oceanblue ( Date: 23-Jun-2008 11:28) Posted:
| Closing today. Is this a good IPO. |
|
Any guess on it's likely opening price & closing price tomoro?
AK_Francis ( Date: 23-Jun-2008 11:45) Posted:
wrong timing. for sure u will get balloting ratio at least 50:50 as compared to last yr one which each IPO was not more than 9:99 and listed price gained at least 20% and above.
as mentioned in BT lately that few IPOs offered this yr, prices alrdy under water. moreover this burger is in Catalist, may not be attractive to investors loh.
your choice leow. |
|
wrong timing. for sure u will get balloting ratio at least 50:50 as compared to last yr one which each IPO was not more than 9:99 and listed price gained at least 20% and above.
as mentioned in BT lately that few IPOs offered this yr, prices alrdy under water. moreover this burger is in Catalist, may not be attractive to investors loh.
your choice leow.
Closing today. Is this a good IPO.
Yes, that's right.
Btw, is this ipo the one that's advertised on our papers today? I'm now overseas since yesterday & have no access to local papers.
Mencast Holdings, a local manufacturer and supplier of sterngear equipment and provider of sterngear services, launched an IPO of 22.5 million new shares at $0.28 each for a listing on the Catalist board. 21 million of the shares being offered are placement shares, with the remaining 1.5 million available for public offer. The shares being issued will represent 15.3% of Mencast's enlarged share capital. At $0.28 a share, the offer is priced at a historical PER of about 7.3x. This is based on its earnings per share of $0.00385 on pre-invitation capital for the financial year ended 31 Dec '07.
Sterngear equipment are used on the back-portion of vessels and include components like propellers, propeller shafts and rudders. Mencast's equipment is used in commercial vessel applications. It caters mainly to the local and regional shipyards in the offshore oil and gas and marine industry. The company counts among its clients the subsidiaries of heavyweights such as SembCorp Marine and Keppel Corporation. About $1.8 million of the expected $5.1 million in net proceeds raised will be used to acquire or build new production plants and new machinery and equipment in Malaysia and Indonesia. Another $1 million of those proceeds will go towards expanding its production facility to meet increased demand for its equipment and services.
'We believe that the continued increase in level of activities in the offshore oil and gas and marine industry in the region will drive the demand for our sterngear equipment and services,' said Glenndle Sim, Mencast's chief executive officer. 'We believe that new markets for sterngear equipment and services in countries outside of Singapore, such as Indonesia, Malaysia, Vietnam and China, are growing, due to their proximity to major oil and gas resources. Given our strategic location in Singapore, we are well-positioned to ride on the continued growth in the offshore oil and gas and marine industry,' Mr Sim added.
In FY2007, their sterngear service and manufacturing activities accounted for $10.25 million and $8.62 of the group's $18.87 million in revenue, respectively. The year before, revenue stood at $13.35 million. The group posted a net profit of about $4.8 million for the financial year of 2007, up from $2.2 million in 2006.
The IPO will close at noon on Jun 23. Trading on the Catalist is expected to begin on Jun 25. The sponsor, underwriter and placement agent is CIMB-GK Securities.
