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China Bearing IPO
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waterfalls
Senior |
13-Oct-2006 13:44
Yells: "Investing is calculated risk, patience n luck" |
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Following the good showing of the last 3 IPOs namely, Epure, Chian Kangda and Plastoform, it is worthwhile to stag on this IPO and ride on the wave of the bullish sentiments of the market. Moreover, the small retail tranche means demand will outstrip supply. |
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YongJiu
Veteran |
13-Oct-2006 13:03
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any comments on this? |
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YongJiu
Veteran |
13-Oct-2006 13:02
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SINGAPORE
(XFN-ASIA) - China Bearing has launched its initial public offering
(IPO) of 61 mln new and vendor shares at 0.32 sgd each, the company
said. The IPO comprises 60 mln new shares and 1 mln vendor shares. The retail tranche comprises 2 mln shares and the placement tranche 59 mln. The net proceeds of 16.7 mln sgd will be used buy machinery for China Bearing's new manufacturing facility, to strengthen its research and development capabilities and for general working capital. The IPO is being handled by Phillip Capital as manager, underwriter and placement agent. It closes on Wednesday and trading in China Bearing shares is expected to begin next Friday. China Bearing's net profit has steadily increased from 11.37 mln yuan in 2003 to 26.76 mln yuan in 2004 and 41.07 mln yuan last year. In the first quarter of this year, the company doubled its net profit to 23 mln yuan from 11.46 mln yuan. The company specializes in manufacturing bearings used in automobiles and other machines used in China's industrial and agricultural sectors. |
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