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And full of hurdles ahead too at 0.245; Sellers keep on coming out......I suppose no action from Novo group today too........:(
Full of positive news ahead..........jsut keep in for long term then; Thanks Grandmaster89
They will spend the cash generated from the placement. They are a growing company so they will be burning cash to fund their expansion. In Jan, they announced that they are building a scrap processing plant and a port in China for US$24 million. This plant will be operational in 2011 and will be another source of revenue for the Group. They will also need cash to continue building up their coal and steel distribution net works. In 2H 2010, their steel processing plant will be operational so that is another capex requirement. Let us not forget that the Management intend to secure upstream assets like coal and iron ore mines in the near future.
Capex -
1) Shipping Company (completed in Sept 09)
2) Coal Trading and Distribution from Indonesia to China/India (Dec 09)
3) Steel Processing Plant (2H 2010)
4) Scrap Processing Plant & Port ( 2011)
5) Coal and Iron Ore Mines (yet to be acquired).
highrisk1 ( Date: 05-Apr-2010 22:22) Posted:
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Grandmaster89,
What are they going to do with the money they have profitted from the placement? Besides that, are they going for another placement later with the 10 million shares? Hope to have some advise from you. Thanks..........
Fulfilling HK listing, another Z-obee on the card..... But vol is still low to move up the stock.
Grandmaster89,
What do you think of Hengxin? They r moving towards dual listing similar to Novo and Z-Obee
I don't think that there are any specialized steel and coal supply chain managers listed in HKSE. The closest peer would be Noble Group's metal division. There are a few steel producers in HKSE though they have started to recover from their losses. This means PE ratio will be inaccurate. Nowadays anything dealing with commodities and China seems to be 'hot' LOL.
Hi grandmaster69,
Do you how is the peer of HK steel equity trading likes, example what is their PE ratio for steel stock? Do Hongkongese likes commodity stocks? If they like novo as if they love zobee, then novo should be around 90c.
Thanks in advance.
grandmaster89 ( Date: 03-Apr-2010 15:37) Posted:
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I am keeping it. Fundamentally, it is a lot stronger than Z Obee. If it reaches Z Obee valuation, it will be worth over $1.
So where'll the price heading .. will it be another ZObee .. when is the dual listing take effect
So, in other words,with the fundamentals and strategies the company have, do you think the shares is still worthwhile to keep? Please advise. Thanks.
No. The directors have no interest in the treasury shares of the company. Companies either cancel their treasury shares or use it for their employee stock option or place it out to institutional shareholders to raise cash.
New Page - Direct: 440,625,000 shares, Deemed: 27,950,000 shares.
Dicky Yu - Direct: 23,036,124 shares, Deemed: 478,625,000 shares
Chow - Direct: 9,872,624 shares, Deemed: 468,575,000 shares
New Page is a company owned by Chow and Dick Yu.
Grandmaster89,
Does the placement at 0.23 by the company means that the directors deem the company is just worth at 0.23?
Placement Price is $0.23. They already sold the 18 million treasury shares on Wed.
Novo bought 36.159 million treasury shares in 2008/09 at an average price of S$0.1278
This year, Novo sold 26.159 million treasury shares at S$0.23 while still holding on to 10 million treasury shares
They generated US$1.9 million profit so far through the 'trading' of their own shares. Though it won't be accounted in the income statement, it will be reflected in the balance sheet and cash-flow statement.
What is its Placement PRiCE ?
very important ??
grandmaster89 ( Date: 31-Mar-2010 17:49) Posted:
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I believe dual listing will benefit this coy.
I am waiting to see this baby over $0.50 :) I will truly support NOVO GRP
grandmaster89 ( Date: 31-Mar-2010 17:49) Posted:
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Hope the directors don't disappoint your faithful investors.........
Novo sold its 18 million treasury shares at $0.23 to various institutional shareholders this morning. They made a tidy profit from the sale since they repurchased shares at around 12 cents a year ago.
Purpose for the placement in Jan 2010 -
The Company is undertaking the Placement to increase its public float to 25% in preparation of the Dual Listing. Accordingly, there is no minimum amount which, in the reasonable opinion of the Directors, must be raised in the Placement.
As of 31 March (after selling 18 million treasury shares ) -
Total Number of Outstanding Shares - 673,219,640 (excluding 10 mil treasury shares)
Management Shares - 501,661,124
Free Float - 171,558,516
Public now owns 25.48%. At last Novo meets the HKSE listing requirement !!!
oh well, another step made towards dual listing. :)
CHANGE IN CAPITAL :: SALE/TRANSFER/CANCELLATION AND/OR USE OF TREASURY SHARES :: SALE OF TREASURY SHARES
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_4D58EC41CD690004482576F70033A608/$file/SaleofTreasuryShares.pdf?openelement