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2601-2620 of 4996
CGX and koreans won't wan it to fall below 0.405 i guess... since they buying @ 0.405... end of day is still holding power ba... can hold worst case.. 0.405... unless underwater...
so far.. dual listing offer at premium but end up lower...
so CGX offer at discount... will end higher???
hmmmmmmm.......
rotijai ( Date: 13-Jan-2011 21:59) Posted:
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slowly it will go up la..
just pity those contra players... :/
dragoncloud1988 ( Date: 13-Jan-2011 21:58) Posted:
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those who believe tat the listing on korea will be a lot higher than 40 cents
noobnoob ( Date: 13-Jan-2011 21:57) Posted:
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Wah straight away come out 0.39 - 0.405 ... will be sad case for me... sadzz
smart move? so that korean investors will buy in SGX first b4 listing?
oh shit.... wtf... then who going to buy?
CGX management smart. This is the right move.
i think straight away will open at 39.5-40.5 cents..
no time for u to sell down also :P
unless u plan to cut loss or sell first
Now you all know why i mentioned Monday.
Now you all know what i meant will not go below 40cts. But tomorrow might go to 38.5 or 39cts.
Few days before 25th will see some movement.
25th will see big movement.
1 month later will also see big movement.
can i conclude everyone will be cutting loss?
dragoncloud1988 ( Date: 13-Jan-2011 21:42) Posted:
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Well bro, u got enough bullets?
can slowly accumlate if really goes down below 40c.
zhixuen ( Date: 13-Jan-2011 21:24) Posted:
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wah if 0.405 ... prepare to cut loss and sell... if 0.3 odd die liao... In any case I'll prepare for sell down!!
waa sian. tmr morning prepare heavy sell down. unless of course KDR heavy buy up until reaches SGX price. eh wait. tmr is ipo session right? trading only on 25th right? so well then tmr prepare heavy sell down. once reaches ipo price, or slightly lower, prepare for strong rally once trading starts.
ani kuan cannot onli acc or camp... cant long or short...
tml like wed, sat or sunday....
9am don knw open wat number.... 0.395, 0.4, 0.405, or 0.45?
don knw can system entry or ibet a nt...
zhixuen ( Date: 13-Jan-2011 21:31) Posted:
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I believe 0.395 open 0.405 close.
is there any possibility it will open 0.405 instead? then no chance to short at all...
zhixuen ( Date: 13-Jan-2011 21:24) Posted:
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tmmr shld have heavily sell down >.<
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_EB666D6613EF76C34825781700468623/$file/StatusUpdateRelatingtoProposedKRXDualListing_13Jan11.PDF?openelement
40.5c likely to be the price floor (at least until listing), let's see if this will soar on its debut in korea.
Confirmed annoucement on SGX.
Source: http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_EB666D6613EF76C34825781700468623/$file/StatusUpdateRelatingtoProposedKRXDualListing_13Jan11.PDF?openelement
Extracted Info
Page 1
CHINA GAOXIAN FIBRE FABRIC HOLDINGS LTD.
(中国高纤控股有限公司)
("Company")
(Company Registration No. 200817812K)
(Incorporated in Singapore on 9 September 2008)
STATUS UPDATE RELATING TO PROPOSED KRX DUAL LISTING
(A) ISSUE PRICE AND NUMBER OF DEPOSITORY RECEIPTS
(B) SUBSCRIPTION OF DEPOSITORY RECEIPTS BY KOREAN INVESTORS
(C) NET PROCEEDS
(D) FINANCIAL EFFECTS
(E) DIRECTORS' AND SUBSTANTIAL SHAREHOLDERS' INTEREST
(F) COMMENCEMENT OF TRADING OF DEPOSITORY RECEIPTS ON KRX KOSPI MARKET
(G) DOCUMENTS AVAILABLE FOR INSPECTION
Reference is made to the Company's announcement on 15 December 2010. All capitalised terms used
herein, unless otherwise defined, shall have the meanings ascribed in the earlier announcement.
(A) ISSUE PRICE AND NUMBER OF DEPOSITORY RECEIPTS
The Company is pleased to announce that pursuant to the final placement and underwriting
agreement entered into between the Company and Daewoo Securities Co., Ltd (
) ("Underwriter"), Hanwha Securities Co., Ltd (), IBK Securities Co., Ltd (IBK
) and HMC Investment Securities Co., Ltd. (HMC ) in
connection with the public offering of its Depository Receipts in Korea ("Offering Agreement"):
(a) the issue price of its Depository Receipts has been determined at 7,000 KRW per
Depository Receipt (being equivalent to S$8.111); and
(b) an aggregate 30,000,000 Depository Receipts will be issued.
As 20 New Shares underlie each Depository Receipt, the Company will therefore allot and issue
an aggregate 600,000,000 New Shares to underlie the 30,000,000 Depository Receipts. The
issue price per New Share is equivalent to S$0.4053.2
(B) SUBSCRIPTION OF DEPOSITORY RECEIPTS BY KOREAN INVESTORS
The Depository Receipts were open for subscription by public and institutional investors in Korea
between 12 and 13 January 2011, and will be allotted and issued to successful subscribers in
accordance with the requirements of Korean laws and regulations. Prominent institutional
investors for the Depository Receipts include Morgan Stanley, Deutsche Bank, Nomura, Tong
Yang Asset Management and Hana UBS. The Company and the Underwriter will ensure that no
New Shares are issued to persons prohibited under Rule 812(1) of the SGX-ST Listing Manual.3
1 The Bloomberg exchange rates as at 13 January 2011 of S$1 to 863.5410 KRW and RMB5.122, respectively, have
been applied for purposes of this announcement.
2 The issue price per New Share is at a 8.70% discount to the weighted average price of S$0.4439 for trades done on
the SGX-ST for the full market day on 10 January 2010 immediately preceding the execution of the Offering
Agreement, and has been determined in accordance with the basis set out in the circular to Shareholders dated 21
October 2010 as approved by Shareholders at the EGM dated 12 November 2010.
3 Rule 812(1) of the SGX-ST Listing Manual states that an issue must not be placed to any of the following persons:
Page 2
(C) NET PROCEEDS AND USE OF PROCEEDS
The net proceeds to the Company in respect of the 600,000,000 New Shares to be issued and
allotted to underlie the 30,000,000 Depository Receipts is approximately S$223.8 million, after
deducting approximately S$19.4 million for all costs, expenses, fees and commissions payable.
The Company intends to use the net proceeds to further expand the Group's businesses to
increase Shareholders' value (including through upstream expansion of polyethene terephthalate
(PET) chips (which is the primary raw material used in the production of premium differentiated
fine polyester yarn and warp knit fabric), organic growth, mergers and acquisitions, joint ventures
and strategic alliances), as and when opportunities arise. Prior to deployment, the net proceeds
may be deposited with financial institutions, invested in short-term money market instruments or
used for any other purposes on a short-term basis, as the Directors may determine.
The Company will make periodic announcements on the specific use of proceeds as and when
these proceeds are materially disbursed and will also provide a status report on the use of such
proceeds in its annual report.
(D) FINANCIAL EFFECTS
Share Capital
As at the date of this announcement, the issued and paid-up share capital of the Company is
S$182,024,392 divided into 1,440,000,000 Shares.
Upon issue and allotment of the 600,000,000 New Shares, the issued and paid-up share capital
of the Company will increase to approximately S$406 million divided into 2,040,000,000 Shares.
Net Asset Value ("NAV") per Share
Based on the unaudited financial statements of the Group for the period ended 30 September
2010, and assuming the 600,000,000 New Shares had been issued on 30 September 2010, the
NAV per Share of the Group after adjusting for the New Shares and the net proceeds therefrom,
will increase from RMB113.25 RMB cents to RMB135.01 cents.
Earnings per Share ("EPS")
Based on the unaudited financial statements of the Group for the period ended 30 September
2010, and assuming the 600,000,000 New Shares had been in issue during such period, the EPS
of the Group after adjusting for the New Shares will decrease from RMB21.22 cents to RMB14.98
cents.
(E) DIRECTORS' AND SUBSTANTIAL SHAREHOLDERS' INTEREST
The interests of Directors and Substantial Shareholders in the Shares as recorded in the Register
of Members as at the date hereof are follows:
(a) The Company's Directors and Substantial Shareholders.
(b) Immediate family members of the Directors and Substantial Shareholders.
(c) Substantial shareholders, related companies (as defined in Section 6 of the Companies Act (Cap. 50),
associated companies and sister companies of the Company's Substantial Shareholders.
(d) Corporations in whose shares the Company's Directors and Substantial Shareholders have an aggregate
interest of at least 10%.
(e) Any person, who in the opinion of the SGX-ST, falls within category (a) to (d).
Page 3
Direct Interest Indirect Interest Total Interest
No. of
Shares
% No. of Shares % No. of
Shares
%
Directors
Cao Xiangbin
()
- - 850,900,000 59.09 850,900,000 59.09
Lau Chung Kong
()
- - - - - -
Chen Fen
()
- - - - - -
Liu Yijie
()
- - - - - -
Chan Wai Meng - - - - - -
Tham Wan Loong,
Jerome
100,000 0.01 - - 100,000 0.01
Chan Kam Loon, Philip
- - - - - -
Substantial Shareholders
Cao Xiangbin
()(i)
- - 850,900,000 59.09 850,900,000 59.09
China Success Group
(International Holdings)
Limited
850,900,000 59.09 - - 850,900,000 59.09
Notes:
(i) Mr Cao Xiangbin ( ) is the legal and beneficial shareholder of China Success Group (International
Holdings) Limited, holding 99.8% of its shares, with the balance held by Mr Chen Fen (). Mr Cao is deemed
interested in the Shares of the Company held by China Success Group (International Holdings) Limited.
Save as disclosed above, none of the Directors or Substantial Shareholders has any interest in
the KRX Dual Listing.
(F) COMMENCEMENT OF TRADING OF DEPOSITORY RECEIPTS ON KRX KOSPI MARKET
Subject to the final formal approval of the KRX, the Company's Depository Receipts are expected
to commence trading on the KRX Kospi Market on and with effect from 9 a.m. of 25 January 2011
(Korean time) (or 8:00 a.m. of 25 January 2011 (Singapore time)).
(G) DOCUMENTS AVAILABLE FOR INSPECTION
Copies of the Chinese translated Offering Agreement and a salient English translated extract of
the full and final prospectus of the Company lodged with the Korean authorities as at end 11
January 2011 are available for inspection at c/o Rajah & Tann LLP, 9 Battery Road, #15-01
Straits Trading Building, Singapore 049910 (Attn: Ms Chan Hooi Tze and Ms Angela Toh) during
normal business hours for a period of three (3) months from the date of this announcement.
Page 4
BY ORDER OF THE BOARD
Cao Xiangbin
Executive Chairman and Chief Executive Officer
13 January 2011
The issue price per New Share is at a 8.70% discount to the weighted average price of S$0.4439 for trades done on
the SGX-ST for the full market day on 10 January 2010 immediately preceding the execution of the Offering
Agreement, and has been determined in accordance with the basis set out in the circular to Shareholders dated 21
October 2010 as approved by Shareholders at the EGM dated 12 November 2010.
the SGX-ST for the full market day on 10 January 2010 immediately preceding the execution of the Offering
Agreement, and has been determined in accordance with the basis set out in the circular to Shareholders dated 21
October 2010 as approved by Shareholders at the EGM dated 12 November 2010.