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artng25 ( Date: 21-May-2011 10:48) Posted:
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er.. the lower end of the price is 1.3+..
u still got 50 cents to short..
nickyng ( Date: 23-May-2011 11:23) Posted:
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WOW !! plunged until 1.81 now !??!?! wow....11.3% drop !?!?! wah kor!! wat happened?!?! Wanna join in the SHORTING fun !??! :P
hee....
doesn't look good, and moreover, many other research companies have now stopped releasing analytical reports for IndoAgri except for the following:- cimb buy with tp $2.73 as of 11/5/2011
- dmg buy with tp $2.79 as of 05/5/2011
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11 May by CIMB Quick Takes - Indofood Agri Resources - To list or not to list? |
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| IFAR has announced an indicative price range of Rp1,060-1,700 a share for PT SIMP's IPO. The implied value for IFAR works out to only S$1.37 at the low end (33% below current price) and S$2.11 at the upper bound (3% upside from current price). At these levels, we estimate that the listing will not meet management's criterion of enhancing shareholders' value and believe there is a good chance the listing may not go through, unless the market accords a higher valuation. We are keeping our earnings forecasts and target price of S$2.73 (14.5x forward P/E). Based on our faith that management will not list SIMP below IFAR's P/E valuations, we maintain OUTPERFORM. However, we expect near-term stock weakness. Potential re-rating catalysts are a calling off of plans to list SIMP, higher-than-expected output growth and any M& As. |
Extracted from SGX website 20th May
INDOFOOD AGRI RESOURCES LTD.
(Incorporated in the Republic of Singapore)
(Company Registration No.: 200106551G)
UPDATE ON THE IPO AND LISTING OF PT SIMP ON THE IDX
Unless otherwise stated, terms and references used in this Announcement which have not been defined herein
bear the same meaning as ascribed to them in the Circular of the Company dated 5 April 2011.
The Board of Directors of the Company wishes to update that following the conclusion of the book building
process, PT SIMP together with the underwriters in respect of the Indonesian Offering and the joint bookrunners
and international selling agents in respect of the International Offering (collectively, “
agreed in principle that a public offering of PT SIMP consists of 3,163,260,000 Offer Shares, representing
approximately 20% of its enlarged share capital after the IPO, and the Offer Price will be Rp1,100 for each Offer
Share, subject to the execution of an addendum to the Indonesian underwriting agreement and an international
coordination agreement between PT SIMP and the Underwriters on or about 23 May 2011. The IPO will result in
a dilution of the Company’s shareholding interest in PT SIMP from 90% to 72%.
Underwriters”) have todayshare price has fallen more than 90 cents since jan 2011...
are we waiting for further downside once trading resume
Halted ...... Pending the release of an announcement in relation to the IPO and Listing of PT SIMP.
Good or bad?? ...........
once a darling with many research houses... and now what happen
seanpent ( Date: 11-May-2011 15:27) Posted:
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