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IPO PRICE HK $6- $8.8 =< SG$ 1.20 --S$ 1.66
Aluminum-products manufacturer China Zhongwang Holdings raised US$1.26 billion in the world's largest initial public offering (IPO) so far this year,
Chinese aluminium group launching biggest global IPO to date
New mining listing? Tough mining markets? Yes and no: think China Zhong Wang, a big producer of aluminium.
Author: Barry Sergeant
Posted: Monday , 20 Apr 2009
JOHANNESBURG -
Mining companies around the world have so far in 2009 raised nearly USD 60bn, all of it completely outside any banking system/s, but to date none of the capital has come in by way of an IPO (initial public offer), which entails a new listing. Today China Zhong Wang, the aluminium division of holding company Liao Ning Zhong Wang Group, started marketing for its planned 8 May listing in Hong Kong, that would involve raising up to the equivalent of USD 1.6bn, equal to 26% of its enlarged capital.
If the stock lists at that valuation, its full value would be USD 6.6bn, which would rank China Zhong Wang as the third most valuable listed specialist aluminium stock, after
Chalco, with a market value of USD 15.6bn, and Alcoa, which currently carries a market value of USD 9bn. Russia's Evraz, which, like Alcoa, tends to rank itself as the world's biggest aluminium entity, remains unlisted. Then again, Rio Tinto Alcan markets itself as "the global leader in the aluminium industry".
Should China Zhong Wang succeed in its IPO, at the kind of price level it is suggesting, this would be the world's biggest IPO in the year to date, across all global equity sectors. Aluminium, however, is the least recovered of the base metals, given a stubborn composite refusal by the global sector to amend supply in line with changed demand conditions.
http://www.mineweb.com/mineweb/view/mineweb/en/page67?oid=82069&sn=Detail
http://www.zhongwang.com/
http://www.hkexnews.hk/index.htm
Sweet. Congrats everyone huat ah... Feel like quitting my job...
well done! breakout 0.55! new ceiling to approach........
I'm not saying Midas is no good, I know they have a 1 billion $ China stimulus infrastructure contract & will sooner run up but it may consolidate or correct or who knows, markets are at times crazy, I may be wrong, it may not even correct now but charge up & consolidate or correct later on.
One consolation is tat the RSI is still around 50, not overbought yet, so has a lot of upside potential.
It may seems not running up today while many counters are running up as it maybe consolidating its recent gains, noticed it closes unchanged today.
TA wise, it may start charging up once it breaks the resistance around 53 cts.
I will start buying in on a breakout of 53 cta, while in the meantime putting my funds into other moving counters. In a nutshell, it is rotational play.
knightbridge ( Date: 06-May-2009 19:15) Posted:
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richtan ( Date: 06-May-2009 12:07) Posted:
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STI & most stocks including Midas had run up to much, no point chasing after them, correction akan datang once short covering finished.
Remember initially there was "irrational fear", now there is "irrational exuberance", soon sanity will return.
Dun be caught off-guard & struck by the recuperating bear.
Still holding well at 52.5.
richtan ( Date: 04-May-2009 14:40) Posted:
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yipyip ( Date: 04-May-2009 14:31) Posted:
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positive TA, uptrend
oceanblue ( Date: 04-May-2009 11:01) Posted:
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