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anybody can advice...wanted to entry in this counter..I must have at least 4 lots to be entitled for the 3 rights lots right?
I miss the my price to entry yesterday @ 1.65...
Yes, I was looking at this report at the instant when I buy 127.........I was thinking then, if buy now and 81.5 is true then big time loh...so why not wait for sub 100 ??
Heng ah......
Isn't Goldman or C upgrade to 1.30.........????
Alligator ( Date: 03-Jun-2009 08:58) Posted:
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I think everybody is scared off by the DBS rights then......$10 stocks sell rights at 5.40.
So I think everybody is thinking NOL will sell @ half price of 60~70 cts lor.
The situation has since changed......rights at 1.30.....
Insanity...YES.....why is there joy when the whole company is completely recapitalized.....
Dividend will drop 50% and so forth ????
wongmx6 ( Date: 03-Jun-2009 01:35) Posted:
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if you want to exercise your rights, then HOLD your share until Ex-Rights date, that will qualify you as entitled shareholder (to the Rights Issue).
Then you pay via ATM before the CLOSING date.
These dates will be announced later
zhenxian ( Date: 03-Jun-2009 09:11) Posted:
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Hi, may i know how do we excersie the rights?
As in i have s few lots with me now and i want to subscribe to the rights issues. Thanks
OCBC also upgrade from SELL to HOLD and raise price...in a very short time to DOUBLE....
Upgrade to HOLD on inorganic growth potential. In our view, the rights
issue is a timely move by NOL to recapitalise in anticipation of weak
operating cash flows in FY09 and FY10. The group's ability to raise
substantial funds amid tight credit markets allays financing concerns. More
importantly, with its enhanced financial flexibility, NOL can now review
acquisition opportunities that were previously unavailable to it due to lack
of credit. While we remain cautious over the shipping industry's outlook,
NOL's stronger financial position and the enhanced likelihood of inorganic
growth have prompted an upward revision of our rating. We upgrade NOL to
HOLD and raise our fair value estimate to S$1.63 (prev S$0.815) based on
0.8x FY09F NTA, in line with its peers. Our ex-rights price will be S$1.39.
(Lee Wen Ching)
Philips just upgrade it from SELL to BUY
Upgrade from SELL to BUY with fair value raised from S$1.14 to S$2.12. The
rights issue reduces the need to acquire bank loans to meet its operating and capital
expenditures. It also reduces its net debt to equity ratio from 0.8 to 0.0 for FY2009F.
However, it leads to lower earnings per share for all shareholders and dilution of
interests for shareholders who do not take up the rights issue.
We like the rights issue as it allows NOL to tap the existing shareholders for cash to
reduce its debts and improve its cash position. We upgrade our recommendation
from sell to buy and raise the fair value from S$1.14 to S$2.12, which works out to
1.2 time book value for FY2009F.
Subscribe for the rights shares. We recommend that shareholders subscribe for
the rights shares. This is because the rights shares are priced at a discount of
38.7% to the fair value of S$2.12 for the stock. Moreover, with cash from the rights
issue, NOL will be able to continue with its operation needs and pay for new
vessels. It will be in a stronger financial position as it weathers the downturn in the
shipping industry.
Not to spoil your mood, this is insanity, Can't you remember about 2 months ago, when gossip of NOL wanted to issue right. its share price was dropped drastically.
What had happened on yesterday was entirely different from its previous experience.
The only good news were Temasik going to take up those unwanted Right Issues and its will almost clear away all its debt with this exercise.
I wanted to sell away mine on yesterday at price of 1.69 (Close to end of trading) but not succussful.
Hey thanks !!! I am never so lucky and precise on the timing.......if you have read my previous post....I sold @158, 159 160.....then buy back everything at 127......then shoot up all the way.
:|||)
Simply Fanastic !!!
matthewsoh ( Date: 02-Jun-2009 17:35) Posted:
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Trend that I see. maybe I am wrong but I think time will tell. If I am right , i will requote this again :)
smartrader ( Date: 02-Jun-2009 22:28) Posted:
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Congrat !! Confirm big win for you and you will be getting your rights share for free if the stock hits $2.5 during CR period.
Andrew ( Date: 02-Jun-2009 17:09) Posted:
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Haha, just read Lim and Tan issue BUY call. copy some here
COMMENTS
1. We would have been surprised if NOL did not take
advantage of a strongly improved share price to
raise fresh capital, which it needs not only because
of its own capex plans, but also because the crisis
must bring with it opportunities for it to seize.
2. So investors should put behind them what had
happened earlier, reprimand and all, and take up
their entitlement in full.
3. What enables NOL to price its rights at such a
narrow 9% discount to the theoretical ex-rights
price of $1.43, is the full backing of Temasek
Holdings, presently with a 67.43% stake.
4. Temasek will not only take up its entitlement in full,
it has undertaken to subscribe for any shares not
taken up by minority shareholders.
5. In that event, Temasek’s stake will rise to 81.4%.
This is however unlikely to happen, what with green
shoots sprouting everywhere. NOL’s latest
operating statistics (Period 4 from Apr 4 to May 1)
showed the decline (in Revenue per FEU) has slowed,
basis for our BUY call.
I bought @127 so....it is definitely a win for me. I will probably look to the MFTs for inspiration as it is a rather big investment for me.......heeeee.....
Did they have the same voice......??
Fairygal ( Date: 02-Jun-2009 12:56) Posted:
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It rise because it look more like a privatisation plan leh than a rights issue. The company get 75% recaptialise, T ownership will increase as they will mop up all the rights.
It is better to be a 89% owner than a 70% lor.....and also, many owners are probably short term player. As long as 66% of the weighted minority shareholder giveup their rights, that it lor.........
Plus all this bad news about NOL going to lose money until 2010 by most MFTs.........what's your take.....?? Sell Rights Keep Mother, Exercise Rights and Keep Mother or simply sell everything ???
Farmer ( Date: 02-Jun-2009 11:45) Posted:
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