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Anyone know why?
Flyordie ( Date: 14-Jan-2013 15:43) Posted:
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including one of s-china share Sunvic too?
louis_leecs ( Date: 31-Dec-2012 09:26) Posted:
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Bb is inside,,,,,,so get ready to s-share,finally badly hit will be bb target,,,,are you ready
ya. any news to share?
Any new news? Up 13% in the morning. Wondering it is has to do with the rumoured company takeup.
ck bb is at china counter,,,,,,,,,,,,,,,,,,,,,get ready all china s share
My guess is this former punter darling is primed for re-consideration as " good" Chinese pennies will see rotational play.
Just testing for comments and thoughts from fellow forumers on CNT.
ChinaNtown penny this week
strong support at 6cents...great upside
Dun bother about this counter. No point..... Look elsewhere
Sorry for the conversion error..
The NTA of RMB1.2 per share should be around 24c instead.
At current 8c per share, this is trading at 33% of NTA or 72% of what the bondholders are buying at 11c. Cheers.
Was away for a while and now back. Have just seen the price dropped to this level and think that what an opportunity it now present. Checking the latest announcement from CNT, i thought they are now on the roll in getting back to profit.
The 2 lands in the Luodian project was sold at record prices and booking in revenues of RMB 400M and gross profit of RMB 273M in Q3. According to their announcement, they have about 1 million sm inventory left in Luodian still to be sold. That is beside the other 3 projects currently in their portfolio.
They will be conducting the EGM next week related to the purchase of the Bonds issues. The reasons for the purchase was found in the circulars ... ( see below )
RATIONALE FOR THE PURCHASE OF BONDS
The management of the Company has taken proactive and forward looking steps in managing its finances and considers the Purchase to be beneficial to the Company and the Shareholders in several ways:
(a) the Senior Notes can lengthen the debt maturity profile from the current 15 months based on the terms and conditions of the Convertible Bonds to 3 years;
(b) the Purchase will reduce the gross annual interest expense of the Company from approximately RMB260 million to approximately RMB150 million per annum;
(c) the financial leverage of the Company (i.e. net debt/equity) following the completion of the Purchase will be reduced from 58.72% to 54.01% and
(d) the issuance of the Subscription Shares and the Equity Grant Shares will broaden the Company’s shareholders’ base. With a broader shareholder base, the market liquidity of the Shares is expected to increase.
Additionally, pursuant to the terms and conditions of the Convertible Bonds, the Bondholders have an early redemption option which is exercisable between 15 September 2008 and 15 October 2008 (the “Early Redemption Option”). Upon the exercise of the Early Redemption Option, the Bondholders have the option to require the Company or certain other parties, which include SRE Investment and SRE Group Limited, to purchase the Convertible Bonds from the Bondholders at 135% of the amount equal to the principal amount outstanding on the Convertible Bonds as at 15 September 2008 plus accrued and unpaid interest. Upon the completion of the Purchase, the Company will present the Convertible Bonds to the trustee of the Convertible Bonds for cancellation and consequently, the Early Redemption Option will be terminated.
The NTA is about RBM1.2 ( 22c ) per share after the bond purchase. New shares for bond holder is 11c. Now trading at 7c to 7.5c. Do think that the counter has suffered irrationally and now it's ripe for the picking. Cheers.
2 - 3 cents? oh no.. another centillion ? well, i will bet this rather than centillion if it really drops to 3 cents..
Andrew ( Date: 03-Sep-2008 12:42) Posted:
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EPS and NTA will get lower after the issue of 600mil shares from the cancellation of convertible bonds
I think it has to do with the massive float of 1.5B share. With the tiny profit of 7.8M RMB, the EPS is half a RMB cents or 1 RMB cents for the whole year (Assume).
So at 8cts, the PE is 40......Very high....Also Q2 loss 67M RMB.
It look like a 2~3cts company for the current PE of 10~15.
NTA is 39cts (Singapore Dollar).
I suggest Avoid.....cheap will get cheaper....???
still selling ????????????
when can it stop?
| 12:02:14 | 0.08 | 291,000 | Sell Down |
| 12:02:04 | 0.08 | 6,000,000 | Sell Down |
It listed in SGX on 14 Nov 2007 at IPO of $0.83. In less than a year, its share price has already dropped 82%. Recently, CNT announces that it is going to buy back its convertible bonds and issue placement shares of $0.11. At current price of $0.09, is there still room for its share price to drop further?
Saw huge lots sell downs at 10cts. Guess market react negatively to news on convertible bond buyback and issue of placement shares at only 11cts. Better to wait for a while before going in
The stock is approaching to my target of $0.11. This level should be a good support.