1. Net Asset Value is TWD6.98, equivalent to SGD0.30, or USD0.23.
Stock trades at USD0.11 cents, what a laugh!
More than 50% discount to NAV.
2. Hotung is a long-time pre-IPO investor of one of its biggest holdings, MStar, which is going IPO next month. The divestment will bring in tonnes of cash.....
Re-rating of Hotung is inevitable! How about 15 US cts?
See :
MStar Semiconductor To Seek Up To US$300 Million In Taiwan IPO -
Today : Thursday 11 November 2010
MStar Semiconductor Inc. (3697.TW), a Taiwan-based TV panel chip maker, plans to raise up to US$300 million in an initial public offering ahead of a listing in Taiwan slated for next month, a person familiar with the deal said Tuesday.
The offering could surpass TPK Holding Co.'s (3673.TW) US$200 million deal to become the island's largest IPO this year.
MStar said in a statement Monday it has hired Goldman Sachs Group Inc. (GS) and Capital Securities as the underwriters of the offering, but didn't disclose the offering size and other listing details.
The person said the roadshow for the offering will begin in early December, and the company will likely debut on the Taiwan stock exchange by the end of the year.
Goldman Sachs is the first non-Taiwanese investment bank to underwrite a domestic IPO in Taiwan.
-By Aries Poon, Dow Jones Newswires; 886-2-25022557;
aries.poon@dowjones.com