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hi 787180, you were so right about sinostar, seems to be moving towards 1.0$ its nice to have people like you who helps others.
A SHINING STAR!!!
Out first better @74.5. Watch tomorrow. Play contra.
Aiyo, will it be overvalued?
Dare not buy at this price.... tempted
If you care to examine the trades done closely, the buy ups above 70 is still strong.
Still can buy?
stocks are like that U think it is xpensive because (38cts vs 70cts now) wait till >$1 then U regret base on my 20yrs trading experience..go in and sit back ..buy
Sinostar has gone up so much today, is it good to buy in? I think it is expensive.
Can Sino star shinning bright like China Energy............. ?
Sinostar
CHINESE PETROCHEMICAL FIRM LAUNCHES IPO
By WEE LI-EN
China-based petrochemical company Sinostar PEC Holdings has launched its initial public offering (IPO) for a Singapore Exchange mainboard listing.
Sinostar processes raw liquefied petroleum gas (LPG) to produce downstream petrochemicals, namely propylene, polypropylene and LPG.
Its products are sold in China mainly to manufacturers of petrochemicals and plastic products, LPG distributors who supply household fuel, and industrial manufacturers who use LPG as a source of fuel.
Braving the current stockmarket volatility, the company is offering 160.4 million shares at 38 cents each based on a historical price-earnings ratio of 9.64 times. The $61 million IPO comprises 150 million new shares and 10.4 million vendor shares. Five million shares are for public subscription and 155.4 million for placement.
Sinostar expects net proceeds of $51.9 million from its new shares. It intends to invest in a joint venture with one of its major suppliers to construct an upstream heavy oil conversion facility.
The facility will enable Sinostar to have an aggregate processing capacity of 600,000 tonnes of raw LPG a year, up from its current capacity of 350,000 tonnes.
Sinostar will have a 51 per cent stake in the venture, while Dongming Zhongyou will own the remaining 49 per cent.
Dongming Zhongyou is part of the Dongming Petrochem Group which has a refining capacity of five million tonnes of crude oil.
Sinostar chief executive Fan Deng Chao said that the joint venture will diversify its revenue sources through producing and distributing other derivatives as well as securing and expanding its sources of raw LPG supply.
Sinostar's revenue grew at a compound annual growth rate of 48.9 per cent from 450.8 million yuan (S$91.3 million) in FY04 to one billion yuan in FY06.
Net profit rose from 12 million yuan to 97 million yuan in the same period.
Executive director Zhang Liucheng said yesterday that demand for its products in China is so strong that the group is unlikely to look outside the country for potential markets.
Major petrochemicals are needed to produce many consumer products which will be in high demand as Chinese consumers become more affluent.
And Mr Fan said that he believes there will be strong growth in demand for LPG as the government promotes the use of environmentally friendly fuels.
[quote="stockmama"]This stock really hit $1,but never expect it to be so fast! This is my best performing stock this week, happy for those that invest along the way...talking about newly listed Uni_Asia...
Two days ago added another wonderful stock to my stocklist -Fujianzy, make some decent gains also. Very strong stock and going uptrend,Now at 80c, we should see it heading $1 very soon too ...[/quote]..If what happened to Uni asia(ipo 55cts) can hit $1..Sinostar may not require 3 to 6 mths...just watch this star potential stocks..ipo 38cts is artifically low(now at 57.5cts) because mkt just came out of corrections..accumulate sinostar,may be < 3mths to hit $1
Second warning, contra player should get out yesterday at 0.59... Friday closing cannot breaktrhough 0.585, and close at 0.575.. not a good sign.
For long term investor, let's cash in on Wednesday or Thursday.
Contra once on Thursday (some kopi only), but will want to vest next end of the week, when price crash below 0.50 cents.
Warning , if Sinostar cannot break 0.585 by next Monday, this stock will CRASH !
all the contra people will sell down Big time on monday and Tuesday, beware! don't forget the first IPO day, such a huge volumes transacted......
Look like many pple are trying to talk down the stock..proabably shorted heavily but feel frustarted as counter is holding well at 57cts..sinostar is definitely for 3 to 6mths and this petrol chemical supplier is a rare in term of product listed on SGX...20mil done b4 lunch the 3rd day of trading this friday..boast of Lehman Bros as major shareholders..after the pte placement sold out and shortist out this stock will definitely cross 60cts and beyond..CIMB as the underwriter will come up with a strong buy recommendations in 2 to 3 months time...
SO what is a good price to go in?
got to wait....
quote="chillipadi1"]What do you think?[/quote]..CIMB is the underwriter..in a few months times ..A favourable buy rating wil be produced..major shareholders are Lehman Bros..good for 3 to 6 months ..$1 is quite certain....very few such stocks in S'pore..ipo comments..someone say it may be another Juitian
price too high, will come down tommorrow.
quote="gunho"]Another day to short this down - see the huge queue to sell? Even at the last moment, support is pretty weak. Those who go alloted pre-IPO are laughing all the way to the bank, with 50% profit just within a mere matters of days![/quote]
quote="gunho"]Tomorrow, it will trend lower, with more ppl shorting to make some coffee monies.[/quote]..this stock is for 3 to 6mths at least $1 just like China Energy ipo 82cts now still $1.39..short at yr own risk
