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1961-1980 of 2165
Maybe inside kosong liao.....
beside, trust nobody even brokerage firm. do yr homework b4 jumping in....good luck!!!
convertible bond with interest of 5% for 5yrs surely those BBs are not stupid to push up the price so do small investors right? well let the mkt speaks. well suspect company must hv some big projects, but yet to confirm, going on otherwise price wouldn't shoot-up within 11/2 hr after open.
wear glove to catch the falling knife lor....hehe
| Update Time | Symbol | Stock Name | Price | Trade size | Amount | Bid Ask | |
|---|---|---|---|---|---|---|---|
| 10:45:13 | AK3 | SWIBER HOLDINGS | 1.020 | 800,000 | 816,000 | Sold to Buyer | Quad Viewer |
| 10:14:22 | AK3 | SWIBER HOLDINGS | 1.030 | 855,000 | 880,650 | Sold to Buyer | Quad Viewer |
| 10:13:33 | AK3 | SWIBER HOLDINGS | 1.030 | 500,000 | 515,000 | Bought from Seller | Quad Viewer |
| 10:12:11 | AK3 | SWIBER HOLDINGS | 1.020 | 1,841,000 | 1,877,820 | Bought from Seller | Quad Viewer |
| 10:07:33 | AK3 | SWIBER HOLDINGS | 1.010 | 1,289,000 | 1,301,890 | Bought from Seller | Quad Viewer |
| 10:06:34 | AK3 | SWIBER HOLDINGS | 1.000 | 1,722,000 | 1,722,000 | Bought from All Seller | Quad Viewer |
| 10:05:26 | AK3 | SWIBER HOLDINGS | 0.990 | 695,000 | 688,050 | Bought from Seller | Quad Viewer |
| 09:51:06 | AK3 | SWIBER HOLDINGS | 1.000 | 500,000 | 500,000 | Bought from Seller | Quad Viewer |
| 09:46:36 | AK3 | SWIBER HOLDINGS | 0.990 | 1,000,000 | 990,000 | Bought from Seller | Quad Viewer |
| 09:44:54 | AK3 | SWIBER HOLDINGS | 0.985 | 863,000 | 850,055 | Bought from Seller | Quad Viewer |
| 09:44:03 | AK3 | SWIBER HOLDINGS | 0.980 | 1,000,000 | 980,000 | Bought from Seller | Quad Viewer |
| 09:42:53 | AK3 | SWIBER HOLDINGS | 0.975 | 1,689,000 | 1,646,775 | Bought from Seller | Quad Viewer |
| 09:27:40 | AK3 | SWIBER HOLDINGS | 0.950 | 630,000 | 598,500 | Bought from Seller | Quad Viewer |
| 08:59:03 | AK3 | SWIBER HOLDINGS | 0.900 | 688,000 | 619,200 | Sold to Buyer | Quad Viewer |
Swiber Holdings: Capital raising again (NEUTRAL\S$0.94\Target: Under review)
Serene Lim (62323897, serene.lim@dmgaps.com.sg)
Yet another capital raising exercise.
Late last night, Swiber proposed, unexpectedly, the issuance of US$78m convertible bonds due 2014.
An additional US$22m, referred to as Up-size Option is also made available. The convertible bonds will bear interest at the rate of 5%, payable semi-annually. The conversion premium is 28% over last Monday’s last trading price of S$0.94.
We note that this is the second capital raising following a placement of 84m shares to raise proceeds of S$73.9m in Jun 09.
We do not view this favourably. We have previously cautioned on Swiber’s negative free cashflow in our
2Q09 results note.
We are currently making revisions to our earnings model and assumptions. As such, our NEUTRAL rating and target price are under review.
Convertible bond. Swiber announced the issuance of up to US$100m convertible bond at the
convertible price of S$1.20 late last night. The convertible price represents a premium of 25% above
Tuesday’s closing price of S$0.96. Interest on the convertible bonds is at an annualised rate of 5%, 90bp
above Swiber’s effective interest rate of 4.10% for FY08. Assuming no exercise of Up-size Option and
no conversion made, we estimate the increase in interest cost will impact Swiber’s FY09/10 bottomline
by 3%/8%.
Dilutive impact on Swiber shares.
Assuming no exercise of the Up-size option, the number of outstanding shares will increase by 19% from 505 million to 600 million upon full conversion of the convertible bond.
Impact of news.
We think this capital raising exercise is unexpected, as this follows shortly a placement
of 84m shares conducted in Jun 09.
We do not view this favourably, as this raises concerns related to
1) usage of funds, 2) execution capabilities, 3) working capital requirements.
wait...my hunch is unlikely will close >$1 today... :D
dcang84 ( Date: 27-Aug-2009 10:17) Posted:
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swiber showin its true colors
ozone2002 ( Date: 27-Aug-2009 09:36) Posted:
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brudder, it just passed $1. dun play with fire.
nickyng ( Date: 27-Aug-2009 10:02) Posted:
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$1.04..... 
nickyng ( Date: 27-Aug-2009 10:02) Posted:
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You mean 96 cents assuming the conversion bond price of $1.08.
alexmay ( Date: 27-Aug-2009 10:02) Posted:
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Sorry miimum price you get is 96cts not $1.08. DYODD.
ehh....see where u GRAB hor! dun grab the knife edgs can liao :P wont trade above $1...go with any burger who raise $$ via bond issue like FirstResource..etc.. :P
20days weighted avg from the day of issue of the CB will hold Swiber at a minimum of $1.08. This is the minimum price you will get.
Congrats James! It will fly.
jackjames ( Date: 27-Aug-2009 09:43) Posted:
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still not too late to join the upturn... it was $3.60 in year 2007...
don't wait liao la.....
as said, anything below $1, grab !
Yup they need it. At least, you'll know they won't run out of cash in the near term especially so soon after their share placement. The thing to note is the pricing of their bonds at $1.08-$1.20. So there's more upside from where it is now.
mazimaz10 ( Date: 27-Aug-2009 09:23) Posted:
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swiber n swissco can't be equal price.. somehow the disconnect will breakaway and reveal the true price..
Is it good news to issue CB?
I am in @0.90 .. good luck guys.
Yup.
Peg_li ( Date: 27-Aug-2009 08:56) Posted:
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know already, they issued 100m us dollars bond!
can check from their website.
dcang84 ( Date: 27-Aug-2009 08:48) Posted:
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