Hi Mr Boon
Research, research and research before asking aloud:
"In 2009: IPO share price = SGD 29 cents
Today 2016: share price = SGD 34 cents
Low or no dividend should be compensated by high appreciation in share price, but this doesn’t seem to be the case.
WHY?"
It is common practice to check whether there were changes in share capital before comparing share prices.
Crubs seems to know his stuff and we should study his comments more thoroughly before shooting off.
congrats to all believers..
Hope the trend of discussion will move on to the pricing of GF soon and not revolving around the cashflow issues. As this announcement, should silent all critics for now, until the EGM date.
Once everyone backs from CNY, the share price will shoot up. No longer able to get it at $0.30+ range.
Probably I didn't follow the company disclosures close enough. Confirmation of IPO was announced before, and further followed by the EGM convened?
I tried to search, but not able to find the disclosure, may be hidden within other disclosures? Or the EGM notice is regarded as the confirmation?
(not vested)
Regards
Cityfarmer
Sino Grandness announced on 1 July 2013 that it had obtained a no-objection letter from SGX for the Proposed Spin-off of Garden Fresh subject to, inter alia, the following conditions:-
(a) Sino shareholders’ approval being obtained for the Proposed Spin-Off; and
(b) the remaining business of the Company and its group companies outside the Proposed Spin-off group must satisfy the admission criteria for listing on the SGX Mainboard.
It can be inferred that the IPO professionals have already finalised their work, and the EGM on 23 Feb 16 is to seek shareholders' approval for filing the listing application.
The circular on this matter is impending.
I see. I missed it, because it is too way back to mid 2013, about 2.5 years ago. I didn't search beyond 6 months.
No further timely "update" after 2013, either in AR, or within other disclosures? Typically, timely disclosure is needed for a milestone e.g. IPO. May be we should see more disclosures after the EGM notice real soon.
(not vested)
Hi crubs,
Ha-ha! Thanks for the correction. So I did make a BIG mistake on a fact - I can’t promise this is going to be the last one.
True, facts must be right, so are the applications of finance principle.
I am still waiting on your clarification on the statement: “FCF is generated when a company has no immediate re-investment options.”
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An assumption is that Garden Fresh will be valued at 4.9 Billion RMB or 1.04 Billion SGD in market cap.
This means Garden Fresh is bigger than our own Super Group/yeo hiap seng and revenue is similar to them. Remains to be seen if Mr. Market will ascribe such valuation to Garden Fresh as thought by netinsight.
I wonder who are those selling.. Is it programmed selling?
Why will people do profit taking at this stage? Any idea?