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New Century Ship book making offer at $1.19
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http://business.asiaone.com/Business/News/Story/A1Story20100509-215115.html
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Hong Kong's IPO market -- the biggest in the world last year has hit the brakes with several companies shelving share sales as the Greek debt crisis pounds global markets.
Swire Properties, a major real estate developer in the city, Thursday pulled a planned 3.09-billion US dollar share sale, just two days after Giti Tire, China's largest tyre maker, shelved a 500-million dollar initial public offering.
On Friday, iron ore producer China Tian Yuan halted its 522-million dollar issue, Dow Jones Newswires reported, citing an unnamed source.
The shelving of the IPOs comes as British insurer Prudential on Wednesday delayed launching a rights issue in London aimed at helping it fund a 35.5-billion-dollar takeover of AIA, the Asian arm of troubled US insurer AIG.
Prudential, remains in talks with Britain's financial sector regulator over the deal, said that its planned listings on the Hong Kong and Singapore exchanges would also be delayed.
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teeth53 ( Date: 07-May-2010 07:54) Posted:
teeth53 thot -
There is some technicality that aborted such big ship, just can't allow to dive like sub. Like this M'sia sub above. Fault maybe found, repair and to refloat this big ship again, maybe back after six mths.
Is all about this Greek and PIGS. spooking on it fearlessly.
At the closing bell, the Dow was down 348 points, or 3.2%, to end at 10,520.32. The Dow's biggest one-day point decline on a closing basis was Sept. 29, 2008, when it fell 777.68, which had also been the previous intraday mark.
The S&P 500 index (SPX) slipped 38 points, or 3.2%. The Nasdaq composite (COMP) dropped 83 points, or 3.4%. "On the Dow, we were down 400 to 800 points in five minutes, it was horrifying," said Art Hogan, chief market strategist at Jefferies & Co.
Beyond the erroneous trades, the selling pressure of the last few days has been more technical than fundamental, said Hogan. He said the market collapsed some major technical support levels, and could be in for more selling on Friday. |
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Stags only profit in a bull market...
But are we in a world bull market?
In a bear market, balls may be lost!...
In a market that is bearish, cancelling the IPO prevents the potential successful applicants from losing money. It is better to lose $2 than to lose more. Even in a good market, it is also not advisable to subscribe to Singapore IPOs based on facts and figures [past experience] that shows more IPOs losing share value within a few weeks of listing. Some people made money out of IPOs because they were preferred subscribers, institutions and insiders who subscribe to the private shares before it apply for listing at the exchange. AS a retail investor when you subscribe at the offered price, the chances of making quick gains depend on how fast you are when the share gets listed. Usually it is a losing situation because you may not have the time to watch the market.
tthsteve ( Date: 06-May-2010 10:49) Posted:
alamak. for nothing wasted $2 service fee @ ATM.
Those who paid by cashier's order will pay $5 or more.
Will they refund this $2. |
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A number of blue chips counters in NYSE and NASDAQ were driven to zero, really zero. They said it was a computer glitch, do you believe that story? That means computers always doing the dirty job of cheat small investors?
teeth53 ( Date: 07-May-2010 07:25) Posted:
Is not about any others reason, is about mkt diving. DOW dive by almost a thousand points.
Panic sends Dow to worst ever drop, The crash began shortly before 2:25 local time, when in a white-knuckle 20 minutes America's top 30 firms saw their share prices dive 998.5 points, almost nine percent, wiping out billions in market value
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That guy
Hogan is talking nonesense stinking sheet...
Because all the 'fundamentals' are
shown in the technicals ...
teeth53 thot -
There
is some technicality that aborted such big ship,
just can't allow to dive like sub. Like this M'sia sub above. Fault maybe found, repair and to refloat this big ship again, maybe back after six mths.
Is all about this Greek and PIGS. spooking on it fearlessly.
At the closing bell, the Dow was down 348 points, or 3.2%, to end at 10,520.32. The Dow's biggest one-day point decline on a closing basis was Sept. 29, 2008, when it fell 777.68, which had also been the previous intraday mark.
The S&P 500 index (SPX) slipped 38 points, or 3.2%. The Nasdaq composite (COMP) dropped 83 points, or 3.4%. "On the Dow, we were down 400 to 800 points in five minutes, it was horrifying," said Art Hogan, chief market strategist at Jefferies & Co.
Beyond the erroneous trades, the selling pressure of the last few days has been more technical than fundamental, said Hogan. He said the market collapsed some major technical support levels, and could be in for more selling on Friday.
How can you say they "suka suka withdraw"?...
They are only doing a sensible and rational thing...
Which will save the applicants a lot of money which would otherwise be lost in a severe bear market...
Like now...
wishbone ( Date: 06-May-2010 12:46) Posted:
They suka suka withdraw and all those who oreli applied kena charged by the banks.
New Century kena F***** by all these ppl and all these ppl kena chia (eaten) by the bank on the charges. The Ultimate winners are the banks.
This is not laughing all the way to the bank but rather the bank laughing all the way from lowest rank to the President/CEO.
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Is not about any others reason, is about mkt diving. DOW dive by almost a thousand points.
Panic sends Dow to worst ever drop,
The crash began shortly before 2:25 local time, when in a white-knuckle 20 minutes America's top 30 firms saw their share prices
dive 998.5 points,
almost nine percent, wiping out billions in market value
They suka suka withdraw and all those who oreli applied kena charged by the banks.
New Century kena F***** by all these ppl and all these ppl kena chia (eaten) by the bank on the charges. The Ultimate winners are the banks.
This is not laughing all the way to the bank but rather the bank laughing all the way from lowest rank to the President/CEO.
Ha ha, dear comrade, 2 or 5, treats them as tuition fee loh!! Or had taken a bowl of 1.80 chicken rice or 2.00 noodles, at Ubi Ave 1 Blk 327 kopitiam, cheap n good loh.
tthsteve ( Date: 06-May-2010 10:49) Posted:
alamak. for nothing wasted $2 service fee @ ATM.
Those who paid by cashier's order will pay $5 or more.
Will they refund this $2. |
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alamak. for nothing wasted $2 service fee @ ATM.
Those who paid by cashier's order will pay $5 or more.
Will they refund this $2.
So it is not this.
nor it is this as well.
but this one below.
M'sian submarine
http://www.straitstimes.com/BreakingNews/SEAsia/Story/STIStory_489394.html
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Malaysia's first submarine, "KD Tunku Abdul Rahman," docks Port Klang, Kuala Lumpur, Malaysia, The Scorpene submarine
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teeth53 thot -
There is some technicality that aborted such big ship, just can't allow to dive like sub. Like this M'sia sub above. Fault maybe found, repair and to refloat this big ship again, maybe back after six mths.
I NOW THINK RETAIL INVESTORS ARE TELLING THEM TO GO BACK HOME
THEY ARE NOT WELCOME HERE EVER ...
SGX - YOU LET THEM IN INITIALLY .......... WHAT CAN WE INVESTORS SAY TO THAT ???
thulasiappan ( Date: 05-May-2010 17:55) Posted:
China's New Century withdrew S'pore IPO after complaint-sources
* Withdrawal of Singapore's biggest
2010 IPO blow for SGX
* Analysts say won't affect
investor sentiment for S-shares
SINGAPORE, May 5 (Reuters) - China's New Century
Shipbuilding withdrew its $560 million Singapore IPO after a
complaint the firm left out critical information in its
prospectus, sources said on Wednesday, the latest controversy
over a Chinese firm listing in the city-state.
The pullout of an IPO that would have been
Singapore's
biggest so far this year is a setback to bourse operator
Singapore Exchange (SGXL.SI),
which has lagged Hong Kong in
attracting large IPOs from China.[ID:nSGE64401X]
Two sources familiar with the deal
confirmed a report in
the Singapore Business Times on Wednesday that said the Chinese
shipbuilder failed to disclose an ongoing legal dispute with a
customer that had cancelled an order for two bulk carriers.
The sources declined to be identified
because of the
sensitivity of the matter.
The two
vessels remain on the firm's order books in its
initial public offering prospectus, which also said New Century
was not involved in any legal proceedings, the paper said,
adding a complaint had been made to the Singapore Exchange.
New Century did not respond to the report
or to Reuters
queries. It said overnight that it was withdrawing its IPO and
may list on a future date. [ID:nSGE640001].
Both Morgan Stanley (MS.N)
and UBS (UBSN.VX),
which handled
the IPO, declined comment.
SGX
"does not publicly discuss its dealings with individual
companies," a spokeswoman said in response to queries.
Investors had been put off by a number of
corporate
scandals in Singapore involving Chinese companies in recent
years, but Chinese shares, known as S-shares, have since
recovered.
"For this case, it's
probably unfair to say that all
S-chips are once again unreliable. I guess this one is more
company specific," Terence Wong, co-head of research at DMG &
Partners Securities, told Reuters.
"There are obviously transparency and governance issues,
but it is not to say it will be like what we saw in end-2008
and beginning 2009 where there were CEOs running away and
problems with the books," he added.
The withdrawal also comes at a time of investor anxiety
over the fallout of euro zone debt. The Chinese firm had
originally planned to raise as much as $1.24 billion but
downsized the issue amid weakening market sentiment.
[ID:nSGE640001]
(Reporting by Saeed Azhar, Kevin
Lim, Clement Quek and Harry
Suhartono; Editing by Neil Chatterjee and Valerie
Lee)
Source: http://www.reuters.com/article/idUSSGE64402820100505
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China's New Century withdrew S'pore IPO after complaint-sources
* Withdrawal of Singapore's biggest
2010 IPO blow for SGX
* Analysts say won't affect
investor sentiment for S-shares
SINGAPORE, May 5 (Reuters) - China's New Century
Shipbuilding withdrew its $560 million Singapore IPO after a
complaint the firm left out critical information in its
prospectus, sources said on Wednesday, the latest controversy
over a Chinese firm listing in the city-state.
The pullout of an IPO that would have been
Singapore's
biggest so far this year is a setback to bourse operator
Singapore Exchange (SGXL.SI),
which has lagged Hong Kong in
attracting large IPOs from China.[ID:nSGE64401X]
Two sources familiar with the deal
confirmed a report in
the Singapore Business Times on Wednesday that said the Chinese
shipbuilder failed to disclose an ongoing legal dispute with a
customer that had cancelled an order for two bulk carriers.
The sources declined to be identified
because of the
sensitivity of the matter.
The two
vessels remain on the firm's order books in its
initial public offering prospectus, which also said New Century
was not involved in any legal proceedings, the paper said,
adding a complaint had been made to the Singapore Exchange.
New Century did not respond to the report
or to Reuters
queries. It said overnight that it was withdrawing its IPO and
may list on a future date. [ID:nSGE640001].
Both Morgan Stanley (MS.N)
and UBS (UBSN.VX),
which handled
the IPO, declined comment.
SGX
"does not publicly discuss its dealings with individual
companies," a spokeswoman said in response to queries.
Investors had been put off by a number of
corporate
scandals in Singapore involving Chinese companies in recent
years, but Chinese shares, known as S-shares, have since
recovered.
"For this case, it's
probably unfair to say that all
S-chips are once again unreliable. I guess this one is more
company specific," Terence Wong, co-head of research at DMG &
Partners Securities, told Reuters.
"There are obviously transparency and governance issues,
but it is not to say it will be like what we saw in end-2008
and beginning 2009 where there were CEOs running away and
problems with the books," he added.
The withdrawal also comes at a time of investor anxiety
over the fallout of euro zone debt. The Chinese firm had
originally planned to raise as much as $1.24 billion but
downsized the issue amid weakening market sentiment.
[ID:nSGE640001]
(Reporting by Saeed Azhar, Kevin
Lim, Clement Quek and Harry
Suhartono; Editing by Neil Chatterjee and Valerie
Lee)
Source: http://www.reuters.com/article/idUSSGE64402820100505
no wonder investment banking fees went up and contributed to profits of gs, jpm, ubs, etc
niuyear ( Date: 05-May-2010 16:57) Posted:
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Time for sGX to wake up!! OVER supply is the ENEMY of the bull.
So many IPOs since past few month sresulted in many millions had been channelled into IPOs stocks (which includes coroporate buy backs, insider sales etc) and the net changed of trading floats of shares will be at the negative zone which in turn, lessening inflow cash to other stocks.
If they continue to allow this, Underwriters get the money ,(as much as 8%?? commission?) the ipo company gets the money, SGX gets the money.................
Investors eat shit.
niuyear ( Date: 05-May-2010 11:03) Posted:
Constant heaping of new supply onto the market i.e. IPOs will keep stock market under great pressure. Underwriter and stock exchange will benefit from all the IPO listings.
Over supply = bear mkt |
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NCS - YOU ONLY WANT HIGH IPO PRICE TO MAKE TONS OF MONEY
CHANCES ARE PRICE WILL TANK EVEN IN GOOD ENVIRONMENT (SEE OTHER IPOS)
BUT YOU DO NOT CARE SO LONGER AS U MAKE MONEY
RETAILS PEOPLE SUFFERS WHEN IT TANKS
NOW IPO IS PROBABLY UNDERSUBSCRIBE IN POOR SENTIMENT .. SO U PULL OUT ...
I THINK RETAIL INVESTORS ALL ARE TELLING YOU TO GO BACK HOME ....................
Time for sGX to wake up!! OVER supply is the ENEMY of the bull.
So many IPOs since past few month sresulted in many millions had been channelled into IPOs stocks (which includes coroporate buy backs, insider sales etc) and the net changed of trading floats of shares will be at the negative zone which in turn, lessening inflow cash to other stocks.
If they continue to allow this, Underwriters get the money ,(as much as 8%?? commission?) the ipo company gets the money, SGX gets the money.................
Investors eat shit.
niuyear ( Date: 05-May-2010 11:03) Posted:
Constant heaping of new supply onto the market i.e. IPOs will keep stock market under great pressure. Underwriter and stock exchange will benefit from all the IPO listings.
Over supply = bear mkt |
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Thank Goodness, some kindness or mercy has been seen and done? Aunties, uncles, "stags" and investors have been spared by Providence.
lets move on and close this issue.. pay last respects to NCS.. hahahha
$2.00 X 2,000,000 = $4,000,000
