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If whereU correct:
If there was an effort to lower the price of BIG prior to this announcement. Which seems possible due to the circumstances and timing of the price declines, (after announcement of very strong financial results) If price does NOT recover quickly hurting small independant shareholders, then I think SGX should launch investigation into stock manipulation. Does not have good smell!
whereru ( Date: 03-Feb-2011 12:43) Posted:
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If you guys remember, when Biosensors first announced the arrival of a new shareholder, Autumn Eagle (ie Hony Capital), the share price surged, to a high of 1.12, even though it is priced at 0.888 cents.
Subsequently, when it was known that it was Yoh Chi Lu that sold, the shares dropped to 1.02, but subsequently rebound higher, when Yoh Chi Lu held a press conference to explain the rationale of the sale.
Now, this is getting quite exciting - Biosensors now has THREE strategic investors, and they are ALL CHINA Linked, and like infancybird says, has a total of approx 40 % stake in Biosensors !.
NOW, what do they see in Biosensors, that other investors do not see, that they are willing to put in so much money into buying the company ?
Looks like we got to seriously put on our thinking cap ! and really analyse the whole situation !.
Again, NOT a call to buy/sell/hold or Short.
Fact is tomorrow -price will fall to 96cents, But like the recent divesment of Yoh Chie Lu, after the fall the price could pick up again, back to 1.08 after dust settled.
Agree that this is actually unfair to small-investors who are in this for the short term. But seems to be a strategy to ensure approval of Biomatrix in China. If Biosensors is majority owned by chinese shareholders, higher possibility that China will approve Biomatrix. In the longer term it is good for Biosensors.
If I am a Chinaman, i possibly could use as my bargaining chip to sell biosensors share to me at a discount. Biosensors has got no choice but to resort to this solution. In a sense it is a win-win solution. Chinaman win, buy at discount, Biosensor win, can get approval in China. If Biosensor say don't want to lose by asking CHinaman pay higer for stock, chinaman say- that way you cannot get into china market, end up lose-lose.
Look like got to wait till China approval to take profit. Japan approval coming in the short time will not be able to get it back to the $1.20 range. At most share price will go back to 1.18 after japan's approval- hopefull last week of Feb, if not will have to wait for April. Less chane Japan MHLW granting approval in March - end of their financial year
JustForFun ( Date: 17-Feb-2011 21:58) Posted:
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I share the same opinion that the share placement, 16% of company shares, to the two new funds is very strategic and beneficial to BIG. Now these 3 big share holders can work together to facilitate the penetration of BIG products into PRC. The latter`s stent market will grow rapidly to match or even surpass USA market within the next 5 years. BIG is concentrating in PRC and who knows it may be the next Chinese version of Boston scientific or Medtronic .There is a strong likelihood the company may be listed in either HK or China in the future to enable it to grow bigger.
Hence, to me, BIG is a good stock for long term investor and its prospect is very bright. One just need to be patient.
My 2nd thought.....The share value of BIG was probably pushed down over the last 2 weeks to enable the two new funds to buy them at a cheaper rate. Now that the placement is over, I see its share value to revalue up again over the next few quaters.
investor ( Date: 17-Feb-2011 20:22) Posted:
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Hope it's good then..
BIG has been promising but yet disappointing.
My own personal opinion of the placement is that it is positive for Biosensors.
Why ? Biosensors is getting close to S$200 m into their war chest, and it validates that Biosensors is worth more, such that funds are willing to cough out such a large sum of money to have a share in Biosensors. WOuld you pay $0.928 cents per share for Biosensors, if you think it is not worth more ?
The placement is to only 2 entities (funds) and not the normal type of placement that most broking houses do, ie to retail clients, who subsequently flip it for a small profit.
A personal opinion, Not a call to buy/sell.
check out the below link
http://www.atlantis-investment.com/cmsfiles/654060/2914871/ACHF_Profile2011Q1.pdf
New Placement shares at discount/. Some dirty business going on.
Price to fall. Why not give rights issue to let current invest in new shares at discount.
Citigold ( Date: 17-Feb-2011 16:41) Posted:
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metaphoricsymbol ( Date: 17-Feb-2011 15:10) Posted:
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Possibly waiting Tokyo Stock Exchange to close. Terumo is currently being traded.
Thursday, February 17 2011
Revascularism, ACS, Antithrombotics
Room Davos
07:30-08:30 Satellite Symposium Biosensors
Convincing New Stent Developments
Chair: T. Moccetti, Lugano and S. Silber, Munich
07:30 Stent technology and vascular biology: What do we need? T. F. Lüscher, Zurich
07:48 Long-term benefits of biodegradable polymer DES in complex populations P. W. Serruys, Rotterdam
08:06 Future stent generations: What is the promise? S. Windecker, Berne
08:24 Discussion
Nomura - Price target S$1.50
16 Feb 2011
Action
We believe BIG's recent share price weakness follows the derating of its peers,
which reflects the regualtory pricing uncertainty in China. Investors may also be
losing patience on Nobori’s approval in Japan. Other than these two uncertainties,
we see no fundamental weakness. Indeed, we believe investors have overlooked
its strong 3QFY11 results which reaffirmed its competiveness. BUY.
CatalystsContinued momentum in its forthcoming results, the potential value-unlocking of its
50% stake in domestic drug-eluting stent (DES) manufacturer in China, JWMS, and
Japanese approval of Terumo’s Nobori, whose technology is licensed from BIG.
Anchor themes
The US$5bn DES industry is one of the most profitable segments in the medical
technology space, with market share changes driven by innovation. Start-ups such
as BIG, with its leading-edge technology, could be M& A targets for incumbents.
Attractive entry level
De-rating follows Chinese peers on pricing concernsWe believe BIG’s recent de-rating lags its Chinese peers
has been down 26% and Lepu has been down 11% since December
10 (Exhibit 1) when China announced ceiling price cuts for 174 drugs.
According to management, the overall stent price cut in China is likely
to be gradual as the tendering process has decentralized to the
provincial level. We have factored in a 15% ASP cut for JWMS, a JV
of BIG, in our forecast.
− Microport
Losing patience on Nobori’s approval in Japan?In our view, another uncertainty surrounding the stock is Nobori’s
impending approval in Japan. While it is not possible to predict
regulatory actions, we believe Nobori’s approval is not a question of if,
but when. In its recent 4Q10 results, Boston Scientific warned of a
potential DES market share loss in Japan on the back of the launch of
a new product by a “Japanese competitor” in early 2011 (presumably
Terumo, in our view).
Strong 3QFY11 results overlooked by marketWe reiterate our read on BIG’s strong 3QFY11 results, which we think
is overlooked by the market. DES revenue was up 26%q-q (not on a
low base) on organic market share gains in almost every country. We
believe this reaffirms the competitiveness of BioMatrix, and BIG’s
overall market share will likely be further augmented by the launch of
BioFreedom whose CE Mark approval is expected in FY12 (Mar-end),
according to management.
BUY on weakness, upside risk to FY11F EPSBIG’s current share price has arguably discounted the risks /
uncertainties and presents an attractive entry level. 9MFY11 recurring
net profit of US$38mn met 78% of our FY11F forecast we believe
there is upside potential given management’s guidance of a stronger 2H.
Any idea what time the halt will be released? Is the whole day trading halt?
Is there any time for the chaiman announcement?