Sinomem   

SINOMEM 'remains under-valued and mispriced'

Delist - SGX
Offer Price: S$0.975 in cash
Total issued shares: 470,000,000 Shares
Date of delisting: 1 December 2009
Market cap ~ S$458m


Relist – HKSE
Sihuan Pharmaceutical Holdings Group Ltd
IPO Offer Price: HK$4.60
Total issued shares: 5,000,000,000
Listing date: 28 October 2010
Market cap ~HK$23b

 

According to some post here, it is not a S-chip.  But DMG said otherwise......and interesting.....go ones actually move house.......

 

Another S-chip bids farewell.

Over the weekend, wastewater treatment player Sinomem Technology said that it will be privatising at S$0.70 per share, a 28% premium from the last traded price. The main grouse is the low trading volume on the SGX. I believe that it will be relisting some time again in Hong Kong. This path was taken by furniture manufacturer Man Wah and Sihuan Pharmaceutical. The latter’s market cap jumped 10x after relisting within 11 months! More will take this route, or the dual listing one, especially if confidence in S-chip wanes in the wake of the new cases of financial irregularities (read: China Hongxing and Hongwei Technologies). In a recent study, we found that dual listing may not be as lucrative as relisting, but the former typically takes a shorter time.


 

 

Offer letter will be sent between 24-21days from date of announcement (5 March 11), then which shareholders must respond whether they want to accept/reject offer at 70cents within min 28days - max 60days, depending on the clause stated in the offer letter. during they response period, the offeror might or might not revise their offer price, depending on the sense of the market. Once they got 90% they will move on to the next step of offering  the remaining shareholders to  sell their shares to them at the  final offer price.   

 

If you don't need the  money now, hold on to the offer @ .70 cents and sell back to them instead the market and @ the same time

you can have the brokerage fees saved and go and buy youself a treat or your friends.

Those who want to buy also can go ahead and buy, sure you will make some money, when the market is so uncertain going YO YO

because of the oil price and and unrest in the ME NF.  Cheers.

 

Hi Congrats to you all. My concerns is will GP IND be coming up too, lets see :)

timqoo      ( Date: 05-Mar-2011 14:41) Posted: for those vested looks like good news Cash offer of S$0.70 per share (the " Offer Price" )  Represents attractive premium of: o 28.44% over the last transacted price per share on 1 March 2011 (the " Last Trading Day" ) (being the last full day of trading in the shares of Sinomem Technology Limited (" Sinomem" or the " Company" ) prior to the date of the announcement of the offer on 5 March 2011) o 31.09% to 36.45% over the one (1)-month, three (3)-month, six (6)-month and 12-month volume weighted average price per share (" VWAP" ) prior to the Last Trading Day o 59.09% over the Company's Initial Public Offering of S$0.44 per share o 31.63% to the Net Asset Value (" NAV" ) per share of S$0.5318 as at 31 December 2010  Clean Water Investment Limited (" Clean Water" or the " Offeror" ) is seeking to privatize and de-list Sinomem from the Singapore Exchange Securities Trading Limited (" SGX-ST" )  Irrevocable undertakings to accept the offer granted by the undertaking shareholders in respect of a stake of approximately 56.05% in the Company

 

All should blanja you... 

SupermanPick      ( Date: 07-Mar-2011 13:59) Posted: Ladies and Gentlemen... i have realised my 36% profit earlier this  morning. I  am strongly against the idea of  buying it at 0.675-0.690, potential upside is marginal and unnoticeable. For those, waiting at the right time to sell......  u better do it now at 0.680 if possible, the opportunities  are clearly diminishing......  simply by looking at buying volumn and trend. Enjoy the parties ....  i  think i am qualified to meet kevin scully now....

 

sell now collect $$$ next week , wait for letter and accept the offer,  collect $$$ many many moon later.

 

Why can't I wait till offer letter and accept it at $0.70? Why should I sell lower now? Tks.

 

Ladies and Gentlemen... i have realised my 36% profit earlier this  morning.

I  am strongly against the idea of  buying it at 0.675-0.690, potential upside is marginal and unnoticeable.

For those, waiting at the right time to sell......  u better do it now at 0.680 if possible, the opportunities  are clearly diminishing......  simply by looking at buying volumn and trend.

Enjoy the parties ....  i  think i am qualified to meet kevin scully now.... 

 

so...would it be advisable to wait for the takeover or should i sell in open market. I think there is a high chance for the takeover

 

Hi roys,

I have read the document..now the CWI has already gotten 56.05% of the total shares offered. They have get 90% in order for the offer to materialize...if they cant get...then this offer will be void? Is there any dateline for the offer? So.. document with regard to the offered price of 0.70 will be send to all market shareholders for their acceptance?

P.S. If ppl were to buy now ...would they get similar offer as well?

roys108      ( Date: 07-Mar-2011 10:25) Posted: 56.05% = 281,269,000 shares, hence CWI needs to buy abt 170,000,000shares to accumulate 90% for the offer to be unconditional. Perhaps the market sentiment not very good n contra players very eager to offload after 3 days of holding.. some might even get force sell by brokering house for not making payment at due date==> Flushing out the contra player?? lets wait and see. I don't think Kevin Scully sold his stake in the company yet.

 

56.05% = 281,269,000 shares, hence CWI needs to buy abt 170,000,000shares to accumulate 90% for the offer to be unconditional. Perhaps the market sentiment not very good n contra players very eager to offload after 3 days of holding.. some might even get force sell by brokering house for not making payment at due date==> Flushing out the contra player?? lets wait and see. I don't think Kevin Scully sold his stake in the company yet.

 

Hmm..if the offer price is 0.70...and in open market is 0.685...if you buy and hold till the buy over date....still can make profit....kind of confusing. Need advise.

 

I think SGX is sleeping ! After this stock request of lifting trading " Halt" on Saturday, there is still a " H" there. Trying to mislead ..... LOL.

 

Need some advise....

james87      ( Date: 07-Mar-2011 10:07) Posted: Hi..I'm currently holding the  the shares of this company. Since the offered price for the takeover is 0.70, so as to say it is better to hold till the buying over date than to sell in open market now? Is the takeover confirmed? and could I expect to cash out my holding? Thanks

 

You made the right decision, so all must 'blanja' you... 

ozone2002      ( Date: 07-Mar-2011 09:19) Posted: u owe me a treat :) iPunter      ( Date: 07-Mar-2011 09:06) Posted: Hahaha...     You " jia buay liao" (made good profit)...

 

Hi..I'm currently holding the  the shares of this company. Since the offered price for the takeover is 0.70, so as to say it is better to hold till the buying over date than to sell in open market now? Is the takeover confirmed? and could I expect to cash out my holding? Thanks

 

u owe me a treat :)

iPunter      ( Date: 07-Mar-2011 09:06) Posted: Hahaha...     You " jia buay liao" (made good profit)...

 

Hahaha...

    You " jia buay liao" (made good profit)... 



 

 

Heng ah...... I bought at 0.71.