Oceanus
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RTO of Oceanus Bio-Tech
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441-460 of 529
management too preoccupied in its share trading price and publicity stunts.....any unforeseen disaster will see the share price falling down down down..
Hi All, Merry Christmas!
Please help me to share your views on whether will Oceanus keep pushing up on coming Monday trading?
I just sold mine for 0.390 yesterday but now I regret selling off. Should I buy back to keep for the short term period or should I wait....
Thank you...
SIGNING OF UNDERWRITING AGREEMENT WITH THE JOINT UNDERWRITERS AND FIXING OF THE TDR ISSUE PRICE AT NT$9.5 PER SHARE (EQUIVALENT TO S$0.415 PER SHARE)
How will the announcement affect the stock price?
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Taiwan TDR listing price wiil be announced on 24 Dec.
"BOOKBUILDERS FOR Oceanus Taiwan Depositary Receipts (TDRs) are pricing the abalone farmer at 8% to 35% above its last close price of 35 cents per share (18 Dec) on the Singapore bourse.
Five brokers in Taiwan have indicated that each TDR, which represents one Oceanus share, will be issued at NT$8.70 (37.5 cts) to NT$10.90 (47 cts).
The actual price will be determined on 24 Dec, and trading in the TDRs will start on 31 Dec. "
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don't get burn if you play contra...
Dual Listing In Hong Kong INDEX = 20948.10 sTOCK WILL FLY
and TAIWAN STOCK EXCHANGE INDEX = 7787.27. MAY BE NOT
They are 100,000,000 NEW SHARES .
heard this fellow going to dual list in taiwan this week, that's why ppl start to load up ....
dual listing heat again ....?
38 cents quite difficult to breach. Can it be breached by today?
SGX Announcements yesterday.
Thanks for sharing but where you got this information....
francisd ( Date: 16-Dec-2009 10:54) Posted:
OCEANUS starting a book building exercise between singapore cents .375 to .47 for TDR. Load up boys.
Cheers. |
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OCEANUS starting a book building exercise between singapore cents .375 to .47 for TDR. Load up boys.
Cheers.
ANYONE KNOW WHEN THE REPORTING RESULT WILL BE OUT .
This one seems to be getting buying interest.
FOR THOSE WHO ARE STILL HOLDING THIS GEM
Corporate Update
BUY Maintain
Price S$0.360
OCEANUS GROUP
Target S$0.500
Gunning for Taiwan dual listing
Listing of TDRs on Taiwan Stock Exchange. Oceanus has announced that
it is pursuing the listing of TDRs representing up to 200m shares in order to
achieve higher valuations. The 200m shares will comprise of 100m new
shares and 100m of warrant-converted shares. We revise our forecast EPS
downwards by 14.6% and 9.1% for FY09F and FY10F respectively after
factoring dilution of share base and higher interest expense. Target price is
lowered to S$0.50. Maintain BUY.
Potentially higher valuation. Oceanus’ management has indicated that the
key motivation for the listing of TDRs is to garner higher valuations given that
TWSE trades at a premium to STI (TWSE: 23.7x FY09F and 15.5x FY10F P/E
vs STI: 17.3x FY09F and 14.9x FY10F P/E). However, the TDRs are not
fungible and thus provide no room for arbitrage, unlike American Depository
Receipts (ADRs). Oceanus follows in the footsteps of Medtecs and Eastern
Asia Technology, which listed TDRs on the Taiwan Stock Exchange in 2007
and 2002 at a premium of ~250% and ~7% respectively. Changtian Plastic &
Company and Action Asia have also proposed to seek a dual listing there.
EPS down 9-15%. The 200m new shares represent 11.3% of current issued
share capital of 1,765m shares and 10.2% of the enlarged share capital of
1,965m shares. In addition, we expect higher expense in the form of increased
finance costs due to the S$73.5m loan from warrant holders. The EPS for
FY09F and FY10F are thus revised downwards to 2.86S¢ (-14.6%) and
3.86S¢ (-9.1%) respectively.
Lowering target price; maintain BUY. We are lowering our target price to
S$0.50 from S$0.52, based on a 20% discount (previously 30% discount) to
the peers’ P/E relative to their respective indices, representing a potential
upside of 39%. We think that the EPS dilution and higher finance cost will
more than offset the potentially higher valuation arising from TDR listing. At
this target price, Oceanus will be trading at 17.5x FY09F and 12.9x FY10F
P/E, which is less than the forward P/E of TWSE.
* OCBC Investment Research analyst Lee Wen Ching projected a decent dividend yield of 5.1 per cent next year based on current stock price of 35 cents.
She
initiated coverage of Oceanus in June, with a ‘buy’ rating and a fair
value estimate of 40 cents on the basis of 2x blended FY09/10F net
asset value.
”Oceanus offers growth amid a recessionary
environment. We expect the growing numbers and maturity of its abalone
population to drive the growth of the group's earnings and asset
valuations. Key risks include execution risk and spread of diseases,”
she wrote.
* Daiwa analyst Chris Sanda
has set a target price of 39 cents for the stock, saying: “We like
Oceanus for its niche specialisation, high earnings growth, prospects
for high cash flow starting in 2011, and defensive fundamentals. We
maintain our ‘Buy’ rating on the stock.”
* DBS Vickers analyst Patrick Xu,
in a July 29 note to investors, said he has a ‘hold’ rating: “We
believe the current share price has fairly priced in most of its growth
potential, as compared with its peers. Downside risk lies in the
execution of the growth strategies.”
He made no change to his
earnings forecast but raised the target price to 38 cents, based on 8x
FY10 adjusted EPS, as he rolled over to FY09&10 blended adjusted
earnings per share.
The Oceanus story continues to impress
him: “Oceanus is in a fast growing ramp-up period, and we expect its
2H09 earnings to be substantially higher than 1H09. The execution of
the growth strategies so far is in line with our expectations, and its
recent issue of S$73.5m debt with warrants will fulfill most of its
remaining capex for FY09 and at least 1H10.”
complete story at http://www.nextinsight.com.sg/content/view/1559/60/
Big Boys are Selling because Singaporeans don't eat small abalones for daily lunch and dinners at high prices.
Moreover, my bosses said they tasted like rubber.
what if i hold 10 lot?
490 million warrants issued, 1-1 conversion at exercise price of $0.15, seems like a pretty big discount to current market price leh.
ahxing ( Date: 28-Sep-2009 21:45) Posted:
| Can someone advise me? Today the AGM just passed. Got any impact on this counter?
|
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Can someone advise me? Today the AGM just passed. Got any impact on this counter?
These are cultivated abalone. Just like the prawn in the Supermarket nowaday and they are cheaper but not so tasty. Just my opinion.
