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now can buy @ IPO price, going downhill
| Time | Last | Vol |
| 09:57:06 | 0.365 | 5000 |
| 09:51:33 | 0.365 | 20000 |
| 09:39:36 | 0.37 | 5000 |
yes, it is going to hit IPO price of 36.5 soon.
anybody to enlighten me why the current price is abt 40% discount of RCPS issue 60???
lg_6273, I choose this counter because it is very cheap (not vested yet)... The price today is ALL TIME LOW at 0.37, hmm... if it break 0.37... horrible dream will start soon...
hi jackjames
why choose star among the medical stocks and not asiapharm, c&o, reyoung? is it bcos of their highest profit margin
Its a little hard to tell for this counter right now. Mixed signals. Volumes are not very good for this one.
Also, there could be explosive price movement soon. But direction of change is not very clear.
Please help, all the Gurus, singaporegal, help me!
I am interested to heavily invested in this counter for long term. I read their company profile and I believe this company has good potential growth in the long run (say 1 , 2 years time)... But, TA gurus, can you give comments on the TA side? Please advise........ thank you thank you!
It announced its proposed issue (the "RCPS Issue") of 66.668m new redeemable convertible cumulative shares (the "RCPS") at a subscription price of $0.60 for each RCPS. This represents 28.5% of the Company?s existing issued share capital and 22.2% of the enlarged share capital if fully converted.
The Company expects to raise net proceeds of approximately $38.0m. ($40m gross proceeds) for the expansion of its production capacity and distribution network in China , as well as for working capital purposes.
The RCPS are convertible at a conversion ratio of 1 RCPS to 1 Ordinary Share anytime before the Maturity Date in 2011, subject to adjustments in the event of, amongst other things, the Company not attaining the target net profit before tax of RMB120m for financial year 2009. RCPS holders can redeem at 100% of the subscription price of $0.60 beginning four years from the Issue Date and before the Maturity Date.
At the maturity date, all RCPS outstanding shall be automatically redeemed by the Company at a redemption price of 130% of the Subscription Price.
A gross preference dividend of 5% of the subscription price, i.e. $0.03 per RCPS, will be payable to RCPS holders annually.
Investment merits of the RCPS Issue:-
Technical Analysis
Currently in a downtrend channel after peaking at 69.5 cents on 18 Apr 06. Starpharm broke down from the uptrend channel albeit slightly only on 18 May 06 before rebounding back within the channel the next day. Prices currently capped within downtrend line and steeper sloping downtrend line (unlikely to provide much resistance for long).
Resistances: 56 cents (downtrend line resistance), 58 cents (support turned resistance), 59 cents (EMA 50), 60 cents (psychological resistance), 62.5 cents (current uptrend channel resistance)
Supports: 53.5 cents (downtrend channel support), 51.5/52 cents (recent lows in late Feb and Mar)
Indicators: Bearish bias (RSI nearer oversold region, showing signs of a rebound after hitting an all-time low, MACD still in negative territory, near the recent low, Stochastics in oversold region, appears to rebounding after correcting near the all-time low). Volumes have been declining generally during this correction phase which is a healthy sign.