(01-03-2013, 02:12 PM)freedom Wrote: [ -> ]GIC has divested all their stake in China Minzhong. and I still remember that another investor invested into the company at below $1 in large quantity. yet, all the investors in the SGX are still chasing it higher.
its Indofood, taking their stake higher....
From "Available for sale securities"... now become... "Associate"...
question is will they acquire enough shares to make it a 'subsidiary'.
There are always some PE funds that need to cash out when their mandate ends. So there is indeed a possibility.
I think thats the rationale why speculators chased the stock higher, but then decided to take the profit 5% profit, since there is no reason to take the risk that it might not actually be the case.
A married deal between GIC and PT Indofood was done at 1.12sgd. The Market seems to like this deal - chasing it up to $1.27 before profit taking pulled back the gains.
(1) Been a passive shareholder, GIC has less 'synergies' to offer than what PT Indofood can do so? Does the market believe that 1+1=3?
(2) After paying 85mil for a 15% stake in the company just <2 weeks ago, what makes PT Indofood willing to pay an extra 20% over previous placement price, and double up their stake to just slightly less than 30%?
DOWN 15% TODAY!
"We believe that Minzhong, like Chaoda, has so significantly
deceived regulators and investors about the scale of its business and its financial performance that
we expect
trading in its shares to be halted and its shares to be worthless"
After reading this report, I also think that china min zhong is a scam
man... what is sgx doing man bringing in such such evil s-chips...
Nice work by Glaucus. Looks like game over for Minzhong. Hope no forum members got caught in this.
I wonder who is the one in GIC that initiated this investment and had not done the required due diligence.
I am absolutely flabbergasted.
I will sack that fellow who invested in Minzhong if I am in charge regardless of how much profit he had generated from Minzhong.
Yeah I hope no VB got burned on this
During its IPO i was tempted to press some shares, heng I never did
I never thought selling vegetables could have such explosive earning growths
what's too good to be true really turns out to be not true, gg
Incredible!!!!
Drop of nearly 50% in just a few hours. Halted now.
I think GIC divested their stakes some time ago right?
Currently I think indofood holds close to 30% of it, wonder how are they gonna react to this.
Trading halted with share price down 47%. I was a shareholder long ago but grew uncomfortable with the negative FCF - sold in 2011 (fortunately).
(Not Vested)