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Better to be cautious for this counter. TA charts (Acc/Dist and Chaikin) do not show bullish signals yet. Volumes today are also not unusually large.
i saw the balloting results, seems v ez to get the IPO. des khor, not to be a dampener, but i do hope hyflux WT will open and close higher, wld advise u to sell it when it opens.
Hi,
Any idea what is the status of the IPO ?
Cheers
Thanks , I got three lots and haven't credited into my CDP yet.
trading starting at 2pm
any idea start trading at 9am or 2pm for his trust ?
Any guess on the closing price for Hyflux Water Trust tomorow?
Hyflux expects to clinch 2 water treatment projects per month on average in China for at least the next 5 years, its chief said. This would help the firm keep a 5-year target for 30% annual profit growth until '08, Hyflux founder and CEO Olivia Lum said.
Hyflux in Feb reported a 63% fall in '06 profit on lower sales, but a consensus of 4 analysts polled by Reuters Estimates sees '07 profit more than doubling to $36.9m. Hyflux currently has under operation and construction 36 water treatment plants in China, including 3 projects worth RMB291m ($57.1m) signed earlier this month.
Ms Lum said that the company's used-oil recycling business, which it entered in '06, will start generating revenue from next year and is expected to contribute 20% of total sales in 3 years. The firm recycles used lubricants into base oils.
I do agree too that there will be a bargain once HWT starts trading. Given its fundamentals and foundation in Singapore, we should see this stock moving in an upward trend through accumulation, but to what fair value I'm trying to determine. It should not perform like the Sunvic shares when it started trading after the IPO, but more like ASL Marine.
IMO
Ok! advice noted! i shall wait for it to list first ..lets see how it goes..looks like growth for IPO isnt high aint it. remember "China Oil Technology" not much changes thou..
anyway, thanks for the fast response! u guys are great!
buy after IPO, sure can buy at lower prices.
HWT is potential counter but so what, recent IPO price also kena hammer. Since you are new, my advice, dun be greedy tender for 1 lot is ok.
i would advise against trying for the IPO. current market sentiment not good, if you really interested in the water trust, in my opinion, u can buy it cheaper when it's listed. i believe it would fall below its IPO price.
hey guy, i am new here.. =p i have been looking for HWT IPO. Any comment or suggestion guys? thanks! would appreciate faster reply because it's closing tmr 12pm!
Credit Suisse - Hyflux Water Trust listing coming through
● On 23 Nov, Hyflux announced the offering price of pending-listing Hyflux Water Trust (HWT) as S$0.78/share. This translates to an implied yield of 5.72% in 2008E and 6.74% in 2009E.
● HWT? mandate is to invest in water-related infrastructure assets in China, India, MENA & other high-growth developing countries. Its initial portfolio consists of 13 Chinese plants injected by Hyflux.
● Besides organic growth and in-built expansion, HWT aims to grow through yield-accretive acquisitions. It is debt free at listing and would reach ~29% gearing if the credit facility is fully drawn. Also, there is no Singapore tax on distributions to unit holders.
● The interests of Hyflux and HWT are aligned ?Hyflux should have the financial flexibility to acquire and further develop assets before injecting them into HWT. Also, it should have recurring income as a plant operator and trust-related fees with its 25% stake in HWT.
● In deriving our S$4.37 target price, we have assumed a 6% yield for HWT ?close to the announced yield, so we are maintaining our target price. OUTPERFORM rating maintained.
Better to be cautious. The sharp price rise on Friday was not supported by strong volumes. I do not see any trend reversal from the charts yet.
Friday it had a good climb yah? Up $0.31?
IMO for the short term period.
After Closing for HWT IPO, share price may move to $3.90/$4.00 by 1st week Dec. Then due to profit-taking, by mid Dec, should see a correction down to $3.50/$3.60.
TA charts show strong bearish signs. Acc/Dist and Chaikin are going southwards. the price has also cut the lower bollinger band.
Maybe it gets whacked first and then surge when the Hyflux Water Trust starts trading.