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Platinum Partners Value Arbitrage Fund (PPVAF) has agreed to invest $30.8m, to subscribe for 250m new shares (7.9% of enlarged share base) in Innopac at an issue price of $0.1232 a share, which represents a 11% discount to the last closing px of $0.139. PPVAF is a multi-strategy hedge fund established in the Cayman Islands, with AUM in excess of US$700m and is managed by Platinum Partners, a New York based invmt mgt group with > US$1b in AUM. Jett Capital, which was authorised by Innopac to identify potential investors for the co , will be paid an introduction fee equal to 3% of the aggregate subscription px payable in cash. The proceeds will be used for working capital and increase Innopac's ability to fund its growth and business expansion.
Any upper limits/tech analysis?
REQUEST FOR LIFTING OF TRADING HALT (2pm)
http://infopub.sgx.com/FileOpen/Announcement_06_Aug_2013.ashx?App=Announcement& FileID=250981
Just as expected, congra to all vested, news to follow.
A 3 cents counter (sorry last thought it was $0.003 owing to decimal points error), yes a 3 cents NAV company trading for more than how many times?
Using today's closing of 13.9 cents, to get the percentage we put
Closing 13.9 cents divided by NAV Times 100= P%
= 13.9 // 3 x 100= 463.33%
So is it right to buy at 13.9 cents? To me I won't. Reasonable price should be 7 cents being more than twice the NAV/NTA.
medivh ( Date: 05-Aug-2013 22:40) Posted:
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and come down like meteor (" ,)
vivilp ( Date: 05-Aug-2013 14:27) Posted:
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i'm just saying they r allowed to halt for as long as 3 days. it doesn't have to be 3 days. some companies halt n resume v fast, like hankore, less than a day. CNA on the other hand, took all 3 days. both were share placements. it really depends.
gaopangx ( Date: 05-Aug-2013 21:40) Posted:
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Our grannies taught us when young that what big men do, we do not get involved. Ipco and Innopac begin with the same letter " I" , a pronoun of self. Enjoy.
Just saw SGX filing. Ipco bought 11m Innopac shares today.
what kind of news need halt for 3 days?
bulletproofheart ( Date: 05-Aug-2013 15:37) Posted:
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guess lots of short positions left opened ..... probably many open shorts in other counters too .....
they can halt for as long as 3 days.
coocoobond3 ( Date: 05-Aug-2013 15:24) Posted:
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wah halt so long still no come out any news??
Looks like it is going to shoot up like a rocket..!!
good luck bro! may the power be with you!
tkc_drew ( Date: 05-Aug-2013 12:19) Posted:
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missed the opportunity leh :(
seanpent ( Date: 05-Aug-2013 12:33) Posted:
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ya ..... he very chun hor ....
thanks .....
sk6666 ( Date: 05-Aug-2013 11:08) Posted:
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honestly what do u think will happen?? big vol with a uptrend price just before halted??? the high was higher then last friday, good luck bro
tkc_drew ( Date: 05-Aug-2013 12:19) Posted:
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most likely u will die big time.. innopac halt is good news.
i short sell at 0.138... =( i hope i dont die later. =x