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IPO S$0.460
CLOSING S$0.425 -S$0.350
wishbone ( Date: 29-Apr-2010 12:18) Posted:
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AnthonyTan ( Date: 25-Apr-2010 16:07) Posted:
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AnthonyTan ( Date: 26-Apr-2010 10:11) Posted:
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Fat hope !!!
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Sept11 ( Date: 26-Apr-2010 11:53) Posted:
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Maybe underwriters do not do homeworks, hahaha
107 million private placement.
3 million for public issue.
knightrider ( Date: 26-Apr-2010 11:45) Posted:
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Compare with Golden Agri and another, this one the plantation is somehow much much smaller in sizes,
and yet it want to be in the same range with big brothers, cannot justify. So I am also not applying. Fyi. Good Luck.
Investors subscribe IPO hoping to make coffee money
and wanton mee.You oso have notice some IPO when listed,
they are below water. When u r below water and can't
swim, you will know the conseqences lah
With these kind of nos. do you still want to .........
starbugs ( Date: 25-Apr-2010 11:53) Posted:
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Tks starbugs for your POV.
101%, I will definitely won't apply.
Don't waste your time.
Caveat emptor.
starbugs ( Date: 25-Apr-2010 11:53) Posted:
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I first posted in CNA/HWZ:
Just my POV after a quick read of the Global Palm IPO prospectus:
1) Much of the earnings come from an adjustment to fair market value of its plantations. Take note!
2) EPS 4.82 cents gives P/E of 9.5, BUT taking out asset value adjustments, EPS is 0.76cents or P/E of 60.3
3) Pre IPO NAV is only 20.31 cents (IPO price is 46c)
4) Most of the trees (87.7%) are post-mature - "peaked". Productivity seems to be roughly in line with Kencana's, but Kencana has a better mix of immature and mature trees.
All in: Not Compelling
DETAILS OF THE INVITATION (Closing date: 27/04/2010) and Expected Listing ("When Issued" basis) 29/04/2010
Issue Size
: 110,000,000 New Shares which will, upon issue and allotment, rank pari passu in all respects.Issue Price
: S$0.46 for each New Share.Public Offer
: Comprises an public offer in Singapore to subscribe for the 3,000,000 Million SharesPlacement Offer
: Placement comprises of 107,000,000 million Placement SharesInvitation Statistics:
Issue Price S$0.46 (NAV) per Share based on the audited combined balance sheet of our Group as at 30 September 2009:
Earnings Per shares Historical net EPS of our Group for FY2008 based on the pre-Invitation share capital of 297,110,000 Shares( Rp236)
Historical net EPS of our Group for FY2008 based on the pre-Invitation share capital of 297,110,000 Shares, assuming that the Service Agreements had been in place in FY2008
Estimated net EPS of our Group for FY2009 based on the pre-Invitation share capital of 297,110,000 Shares
Estimated net EPS of our Group for FY2009 based on the pre-Invitation share capital of 297,110,000 Shares, assuming that the Service Agreements had been in place in FY2009 ( Price Earnings Ratio Historical price earnings ratio based on the historical net EPS of our Group for FY2008 (12.84 times)
Historical price earnings ratio based on the historical net EPS of our Group for FY2008 assuming that the Service Agreements had been in place in FY2008 (12.90 times)
(a) before adjusting for the estimated net proceeds from the issue of the
New Shares and based on the pre-Invitation share capital of 297,110,000 Shares
(b) after adjusting for the estimated net proceeds from the issue of the New Shares and based on the post-Invitation share capital of 412,968,000 Shares
Premium of Issue Price over the NAV per Share as at 30 September 2009:
(a) before adjusting for the estimated net proceeds from the issue of the New Shares and based on the pre-Invitation share capital of 297,110,000 Shares 117.7%
(b) after adjusting for the estimated net proceeds from the issue of the New
Shares and based on the post-Invitation share capital of 412,968,000 Shares 72.5%
teeth53 ( Date: 22-Apr-2010 08:55) Posted:
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