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Sino Techfibre IPO

China Bearing IPO 61m on offer at $0.32c of which 2m is on public offer or 3.0769% which is slightly better then Sino-Techfibre IPO 200m on offer at $0.565 of which 5m is for public or 2.5 %. Both is closing on 12 noon Wed (18-10-2006) and both is going grey at about 14c at this moment, me vested ipo on China Bearing, but will be visiting atm to try out my luck with the rest of my remaining a/c with fren and family members. Just my personnal opinion and experience to share with forumer here, It's ur $$$, Ur risk. U have to weight it. Yahh..

 

Trading in stocks is no exception like in any wet, dry market since it idea is a products of many thousand of years back. Some buy while other sell to take profit. This will create the market. Like any other stocks, Sino-Techfibre will move in according to buyers' or sellers' demand (whether U punt speculate or invest). On record, it's moving upwards is already encouraging enough and recognizable. This can it'self trench upward as more institutional fund mgr and retailers lay their $$$ hands on, this cycle is very effective and can push up it shares price gradually.
No  instiutional fund , it mean it will actually go all the way down hill by day one Before it can be IPO. Think alike in what ever they do. (buy/sell or hold).  FYI oni: Not an inducement to do trading.

 

SinoTechfibre is 5 out of 200 m shares that is 2.5%. New regulations must come out to say at least 10% of the size for the public. After all we have the underwriters around to see the listing go thru. Recent ipos were such that if private placement not taken up they throw to the public atm. So why cant the other way also- public portion not fully taken up (unlikely) throw back to them/underwriters. SIAS is no longer relevant. Imagine the last round in Synear's case they participate in the visit to China office...sounds like some vested interest la.

 

Hi compass, what you said make sense.  I support you and will only apply small small.....

 

since everyone knows it is so hot and most of us retail investors do not get any placement please do not try to apply at the atm too many as this will cause a report that it is so hot like a hot potato that on opening bell it is going to be like a straight stick UP! Do not be conned by all these ipos by applying big big. All of us should not apply so much so that those who get private placement will get lesser profit! Imagine the size is so big yet very little are thrown to the public atm applicants. All small investors must show our unity that this is a great CON job to cheat small fish to benefit big fish.

 

Net profit of the 6-year-old company has increased over 6 times in the FY03-FY05 period from RMB36m to RMB233. Revenue for the same period has also gone up from RMB127.5m to RMB652.7m. As at 31 Aug, its confirmed orders stood at RMB366m, scheduled for delivery before the end of the year.

 

1 out of 5-10 chances with a 22.22% profit. at ipo px of $0.565c
Look like is oredi well exited my TP profit on it 3rd day. FYI oni.

 

Grey market already up 14c plus plus from ipo price of 32c, starting from Friday offer. 

*not an inducement to buy or sell

 

Historical PE is 8.3x.



Re-post from YongJiu



Based in Shandong, Sino Techfibre is a producer of high quality microfibre synthetic leather and PU synthetic leather, which are used extensively in a wide variety of industries such as:

• Fashion apparel
• Footwear
• Sports apparel & equipment
• Luggage and travel accessories
• Upholstery for furniture and automobiles

Since 2003, the Group has supplied material to certain PRC government departments and ministries such as the ChinesePeople?s Armed Police Force and the Ministry of Public Security. In June and August 2006, one of our subsidiaries was designated as an approved supplier of synthetic leather clothing materials by a logistics department of the People?s Liberation Army and the Air Force Logistics Department respectively. In recognition of the strength of its brand and quality of products, its Jinfeng brand has received various awards, namely the ?Shandong Famous Brand?, ?No. 1 Leather Brand in China? and ?Famous Brand of China?.

 

Subscribe lohh, and i will visit atm again.

 

This one looks quite cheap at PE of 8x as compared to China Bearing at PE of 9x.

 

1 out of 5-10 chances with a 22.22% profit. at ipo px of $0.565c

 

so you tik can tikam tikam la??

 

Tink tink. Me going out to atm to try my luck again.

 

Sino Techfibre, a China-based synthetic leather producer, said it expects to raise 107.5m in net proceeds from its initial public offering here of 200m new shares priced at $0.565 each.



Five mln shares will be sold to the public while the remaining 195 mln will be placed. Together, they represent 22.22% of Sino Techfibre's enlarged share capital.



The company said it will usethe net proceeds to partly finance the expansion of production capacity for microfibre and PU synthetic leather, fund its upstream expansion to process pattern moulding paper, set up new sales offices in China and enhance product research and development. The balance will be used for general working capital.



In 2005, its net profit rose to RMB233.22m from RMB75.99m in 2004 as its revenue grew to RMB652.73m from RMB216.43m.



The IPO closes on October 18 and the shares will begin trading on SGX on October 20.



SAC Capital Private Ltd is the issue manager, while UOB Kay Hian Pte Ltd is the underwriter and placement agent.