Yeh, Unbeliveable! Gaoxin closed S$0.445, more to come? Too bad I chicken out at $0.285 after holding it for almost one year!!! Beginning to see the bull horns but don't sure of the body. Someone needs to smoke it to get it head out for us to charge the market.
TigerMel, you must not chicken out next time. After all, you are a TIGER!
Gaoxian at 46.5 cents this morning. Who's laughing all the way to the bank? I think people should consider Hongwei Technologies, Foreland Fabric, China Fibretech and Li Heng next.
Asiasons Research yesterday said:
China Gaoxian’s share price performance has been pretty impressive of late, probably due to investor interest banking on the company’s anticipated dual listing on the Korean Exchange. Despite rising more than 80% since the end of Nov-2011, however, we note that the valuations of China Gaoxian are still relatively low. According to Bloomberg, the company is presently trading at a trailing 7.6x P/E, lower than the average of its Korean peers of around 10 – 12x.
The issue price per New Share is equivalent to S$0.4053, a 8.70% discount to the weighted average price of S$0.4439 for trades done on the SGX-ST for the full market day on 10 January 2010 immediately preceding the execution of the Offering Agreement.
Net proceeds to the Company in respect of the 600,000,000 New Shares to be issued is approximately S$223.8 million.
Depository Receipts are expected to commence trading on the KRX Kospi Market on and with effect from 9 a.m. of 25 January 2011
(Korean time) (or 8:00 a.m. of 25 January 2011 (Singapore time)).
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