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First Engineering
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nsengkia
Member |
23-Feb-2007 11:48
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Not for TA people but an idea to share. Affinity appears very keen to take First Eng private. However, Affinity currently have only about 70%+ of the shares and does not appear likely to be able to reach the 90% threshold to compulsory acquire the rest and take First Eng private. When their offer ends, they can either stop supporting the share or continue buying until they reach 90% and have the share enter limbo (like Wearnes saga). The offer is unconditional so no worry of scrips tendered not being accepted. So all sellers below $1 would have been taken out by the end of this month. There maybe some push downwards but it would be artificial. Affinity's first buy is around $1.20 for first 30% with the remaining 40%+ at $1.00. PE is an undemanding single digit and cost of raw materials is dropping along with oil prices. Overall risk to reward looks good especially in a market with possible sharp downside risks. Heavily vested. P.S.: Please do rate this post if you would like me to post more such ideas in the future. Not too sure if the audience is there amongst the non-TA people. |
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zhuge_liang
Supreme |
09-Dec-2006 01:00
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Affinity Precision is making a voluntary conditional cash offer at $1.00 per share. |
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singaporegal
Supreme |
08-Dec-2006 05:14
Yells: "Female TA nut" |
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Inconsistent volume counter... TA people should avoid this |
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virgoan
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07-Dec-2006 17:38
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Anyone knows why there is a trading halt for this counter? |
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