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akchua Senior	17-Jan-2013 13:21        akchua About Contact  Quote this Post!
x 0   x 0  Alert Admin	The warrants is only offer to Citi group and the strike price is $1.50. Shareholder wont be affected until warrants are exercised when strike price is hit. YZJ is not asking shareholder for money. This is not a right issue. LOL If all warrants is exercised at $1.50, the dilution of YZJ stock is 8.6%. But if you buy now at $1.01, your profit will be around 50% when strike price is hit. Less the dilution, u still have 40% profit. Spread across 3 year, your investment return will be more than 12% per annual. On top of capital gain, u may get dividend, if any. WallStreet3      ( Date: 17-Jan-2013 13:04) Posted: maybe warrants issuance price of $ 0.065 = paying dividends to shareholders $0.055 per share in 2013 ? then shareholders using own $ to pay their own dividends if basis above ? So you receive dividend of $ 0.055 per share, you happy, but you forget you just pay $0.065 per share to buy the warrant ??  WallStreet3      ( Date: 17-Jan-2013 12:59) Posted: after so many years since IPO, instead of giving out $ to shareholders now, YZJ is 'asking or trying to raise more $ from shareholders" thru warrants issuance ? Ask for more $ instead of giving out more $ ? if warrants can only raise $20 mil, what can $20 mil do ? Then I doubt they will have any dividends to pay in 2013. Be extra cautious.
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WallStreet3 Member	17-Jan-2013 13:20        WallStreet3 About Contact  Quote this Post!
x 0   x 0  Alert Admin	citibank ?  i will not touch citibank shares. tell you why. do you know how they issue credit cards ? they issue credit cards easily to PRs from India and Pakistan, and you know what these India and Pakistan PRs did ? They swiped a few thousand dollars, then did not pay up and go back to India and Pakistan. Of cors, Citibank can afford to absorb these losses, but it speaks a lot - where is their control ?  If you cannot even control the basic, I am not sure how they control macro issues.   Ask some sovereign funds (Middle East funds ?) how they fare in Citibank investments.
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WallStreet3 Member	17-Jan-2013 13:10        WallStreet3 About Contact  Quote this Post!
x 0   x 0  Alert Admin	the share price speaks for itself. if this warrant issuance thing is good, share price now more than $ 1.20 per share instead of $1.01 ? issue warrants = try to raise $ (remember interest free some more)
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ynnek1267 Master	17-Jan-2013 13:09        ynnek1267 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Do you know how many China Shipyard are shutdown and boss run road in China in 2012?
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neo8180 Member	17-Jan-2013 13:06        neo8180 About Contact  Quote this Post!
x 0   x 0  Alert Admin	20mil is abit make no sense... but they are not  raising  fund through shareholder,   the warrant fully subscribed by citi group what. and again it expired 2016, why so long if they need money? also it is CITI BANK who subscribed all the warrants, they are not ordinary ppl, they are bb, they will make money losing deal? they got money, it is also very powerful tool   to turn the odd in favor to them. WallStreet3      ( Date: 17-Jan-2013 12:59) Posted: after so many years since IPO, instead of giving out $ to shareholders now, YZJ is 'asking or trying to raise more $ from shareholders" thru warrants issuance ? Ask for more $ instead of giving out more $ ? if warrants can only raise $20 mil, what can $20 mil do ? Then I doubt they will have any dividends to pay in 2013. Be extra cautious.  WallStreet3      ( Date: 17-Jan-2013 12:56) Posted: if 2016, YZJ share price below $1.50 per share , then your warrants maybe worth $0.000000000000000001 per warrant. And you need to convert warrant to share with $1.50 ? If YZJ is $1.30 per share in 2016, might as well buy direct from open market.
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Bopanha Master	17-Jan-2013 13:04        Bopanha About Contact  Quote this Post!
x 0   x 0  Alert Admin	The warrants are the equivalents of options in this case. Experts in options and future prices, will explain to us that the price of 6 cts is actually the theoretical price in so many years time (2016) taking into consideration interest rates, and other factors.   There is a good possibility of YZJ going up to above $1.56 in the eyes of the underwriters and fund managers.   Got spare money, just park it here, CE.. Bopanha      ( Date: 17-Jan-2013 12:56) Posted: At the exercise price of 7.17 RMB (abt SG$1.50), and the warrant priced at abt SGD$0.06, it would mean that should the price of YZJ exceeds $1.50 there will bound to be dilution,.   But if the price of YZJ does not move up to $1.50, there will certainly be no excercise and no dilution. Why are people so worried about this (dilution), like thinking of the end of the world going to happen in the near future, hahaha.   If in few years time, YZJ can go above $1.50, why not buy now?.  steadylar      ( Date: 17-Jan-2013 12:41) Posted: Sorry, report was dated yesterday 16 Jan, not Feb. As short term traders mull over the implications of the warrants, long term investors need not fret over the minor dilution that'll happen only in 4 yrs' time.
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WallStreet3 Member	17-Jan-2013 13:04        WallStreet3 About Contact  Quote this Post!
x 0   x 0  Alert Admin	maybe warrants issuance price of $ 0.065 = paying dividends to shareholders $0.055 per share in 2013 ? then shareholders using own $ to pay their own dividends if basis above ? So you receive dividend of $ 0.055 per share, you happy, but you forget you just pay $0.065 per share to buy the warrant ??  WallStreet3      ( Date: 17-Jan-2013 12:59) Posted: after so many years since IPO, instead of giving out $ to shareholders now, YZJ is 'asking or trying to raise more $ from shareholders" thru warrants issuance ? Ask for more $ instead of giving out more $ ? if warrants can only raise $20 mil, what can $20 mil do ? Then I doubt they will have any dividends to pay in 2013. Be extra cautious.  WallStreet3      ( Date: 17-Jan-2013 12:56) Posted: if 2016, YZJ share price below $1.50 per share , then your warrants maybe worth $0.000000000000000001 per warrant. And you need to convert warrant to share with $1.50 ? If YZJ is $1.30 per share in 2016, might as well buy direct from open market.
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ynnek1267 Master	17-Jan-2013 13:04        ynnek1267 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Go to see Wilmar Warrant, some warrant exercise price is still at 6 dollars. Go to buy loh, lose pain pain Bopanha      ( Date: 17-Jan-2013 12:56) Posted: At the exercise price of 7.17 RMB (abt SG$1.50), and the warrant priced at abt SGD$0.06, it would mean that should the price of YZJ exceeds $1.50 there will bound to be dilution,.   But if the price of YZJ does not move up to $1.50, there will certainly be no excercise and no dilution. Why are people so worried about this (dilution), like thinking of the end of the world going to happen in the near future, hahaha.   If in few years time, YZJ can go above $1.50, why not buy now?.  steadylar      ( Date: 17-Jan-2013 12:41) Posted: Sorry, report was dated yesterday 16 Jan, not Feb. As short term traders mull over the implications of the warrants, long term investors need not fret over the minor dilution that'll happen only in 4 yrs' time.
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WallStreet3 Member	17-Jan-2013 12:59        WallStreet3 About Contact  Quote this Post!
x 0   x 0  Alert Admin	after so many years since IPO, instead of giving out $ to shareholders now, YZJ is 'asking or trying to raise more $ from shareholders" thru warrants issuance ? Ask for more $ instead of giving out more $ ? if warrants can only raise $20 mil, what can $20 mil do ? Then I doubt they will have any dividends to pay in 2013. Be extra cautious.  WallStreet3      ( Date: 17-Jan-2013 12:56) Posted: if 2016, YZJ share price below $1.50 per share , then your warrants maybe worth $0.000000000000000001 per warrant. And you need to convert warrant to share with $1.50 ? If YZJ is $1.30 per share in 2016, might as well buy direct from open market.
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Bopanha Master	17-Jan-2013 12:56        Bopanha About Contact  Quote this Post!
x 0   x 0  Alert Admin	At the exercise price of 7.17 RMB (abt SG$1.50), and the warrant priced at abt SGD$0.06, it would mean that should the price of YZJ exceeds $1.50 there will bound to be dilution,.   But if the price of YZJ does not move up to $1.50, there will certainly be no excercise and no dilution. Why are people so worried about this (dilution), like thinking of the end of the world going to happen in the near future, hahaha.   If in few years time, YZJ can go above $1.50, why not buy now?.  steadylar      ( Date: 17-Jan-2013 12:41) Posted: Sorry, report was dated yesterday 16 Jan, not Feb. As short term traders mull over the implications of the warrants, long term investors need not fret over the minor dilution that'll happen only in 4 yrs' time.
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WallStreet3 Member	17-Jan-2013 12:56        WallStreet3 About Contact  Quote this Post!
x 0   x 0  Alert Admin	if 2016, YZJ share price below $1.50 per share , then your warrants maybe worth $0.000000000000000001 per warrant. And you need to convert warrant to share with $1.50 ? If YZJ is $1.30 per share in 2016, might as well buy direct from open market.
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steadylar Veteran	17-Jan-2013 12:41        steadylar About Contact  Quote this Post!
x 0   x 0  Alert Admin	Sorry, report was dated yesterday 16 Jan, not Feb. As short term traders mull over the implications of the warrants, long term investors need not fret over the minor dilution that'll happen only in 4 yrs' time.
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steadylar Veteran	17-Jan-2013 12:37        steadylar About Contact  Quote this Post!
x 0   x 0  Alert Admin	16 Feb 2013 Yangzijiang Shipbuilding (Holdings) (YZJ SP) BUY Price/Tgt: S$1.025/S$1.43 Mkt Cap: S$3.93b Daily Vol: S$12.8m 1-Yr Hi/Lo: S$1.42/0.85 Analyst: Lawrence Li/Nancy Wei Tel: +86 (21) 5404 7225*813/+65 6590 6628 Lawrence Li Equity Research- Regional Shipping and Ports UOB Kay Hian Issue 330m warrants What is new Yangzijiang Shipbuilding (YZJ) proposed to issue 330m warrants at price of RMB0.3072(S$0.0605) for each warrant. Citi has been appointed as the placement manager and has agreed to subscribe for all the warrants subject to the conditions under the subscription agreement. Each warrant will provide the right to subscribe for one new share at the price of Rmb7.617 (S$1.5), 36.37% higher than the previous closing price of S$1.1. The warrants will be exercisable from 41 days after the closing date to 7 days before the expiry date, which is April 29 2016. After fully execution of these warrants, an aggregate of 330m new shares will be issued, representing 8.6% of the total shares at the date hereof and 7.92% of the enlarged shares after warrant execution. Our view The placement aims to support its future overseas affairs. The net proceeds from the warrant issuance will be Rmb92.17m (S$18.15m), net of fees and expense related to this issuance. After fully execution, the company will get Rmb2,514m (S$495m) extra cash. According to YZJ, it is difficult and costly to move money from China to overseas account, so the issuance is to adjust their cash position in domestic and overseas account. The usage of the cash will include the potential future shares buy-back and YZJ's shipping business operation(own part of vessels and charter out). Maintain BUY on YZJ with target price of S$1.43 collect on share price dip. We may see some dilution upon exercise of warrant if share price is above S$1.56 (S$0.06 warrant cost+ S$1.50 exercise price) in future, which means investors who believe EPS will be diluted also believe share price will go up to S$1.56. Therefore we believe today's share price correction offers good buying opportunity without any change in fundamentals. As a shipyard with adequate cash, we put YZJ as our top pick with Chinese shipyards sector amid an industry downturn.
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singaporean Member	17-Jan-2013 12:24        singaporean About Contact  Quote this Post!
x 0   x 0  Alert Admin	Re counter party - I used iOCBC on-line and its  sale report shows the counter party. Re warrants purch by Citi - it sud be good news for both the coy and shareholders currently holding the stocks well below the $1.50 strike price.  Not too worried abt the eventual 300m new shares dilution since it costs them $1.50 to participate while my cost is well below this and I intend to hold for the long term.  As for the coy, it immly gets $20m fm the warrants and $450m latest 2016 to tide off the present diff times for shipbuilding   oldflyingfox      ( Date: 16-Jan-2013 18:21) Posted: u can  see who is the selling party? how? singaporean      ( Date: 16-Jan-2013 17:24) Posted: Bought some at 1.02 and noted the counter selling party is Citi.  Why they bought the warrants for strike price of 1.50 and begin to sell stock at as low as 1.02, which think a bargain for me
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Peter_Pan Supreme	17-Jan-2013 12:19        Peter_Pan About Contact  Quote this Post! Style: Flexible   Mood: Yells: "did you order dunkin' donuts"
x 0   x 0  Alert Admin	Yangzijiang Shipbuilding - CIMB keeps its Underperform rating in view of the earnings slump expected for the next two years
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Peter_Pan Supreme	17-Jan-2013 12:18        Peter_Pan About Contact  Quote this Post! Style: Flexible   Mood: Yells: "did you order dunkin' donuts"
x 0   x 0  Alert Admin	(UNDERPERFORM - Tgt. S$0.75 Offshore & Marine) - CIMB
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Peter_Pan Supreme	17-Jan-2013 12:17        Peter_Pan About Contact  Quote this Post! Style: Flexible   Mood: Yells: "did you order dunkin' donuts"
x 0   x 0  Alert Admin	HOLD - TP $0.95 - OCBCS
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Peter_Pan Supreme	17-Jan-2013 12:16        Peter_Pan About Contact  Quote this Post! Style: Flexible   Mood: Yells: "did you order dunkin' donuts"
x 0   x 0  Alert Admin	(Neutral, S$1.10, TP: S$0.95) - DMG
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cheongsl Master	17-Jan-2013 12:15        cheongsl About Contact  Quote this Post!
x 0   x 0  Alert Admin	Seems like you did not follow Yang Zi Jiang news, as property is just one of the sideline for Yang Zi Jiang to develop. The Ship building will still remain their main industries which will comprise of 60% of their business structure. The sideline will ensure Yang Zi Jiang to survive during cold winter like last year and this year. and prosperus when the ship building demand return.     WallStreet3      ( Date: 17-Jan-2013 11:47) Posted: be cautious on YZJ 。 1. not much new orders to date 2. if they develop their shipyard into condos, how are they going to arrange their more than 800+ shipyard related workers   ? before you vest more, study the workers laws in China. all their shipyard workers can even continue to receive minimal monthly wages even after retrenchment paid for by YZJ ? for many many years.
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ynnek1267 Master	17-Jan-2013 12:00        ynnek1267 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Your next door forummers are worrying if ChinaNtown will be suspended. If ChinaNtown suffer financial default, the S-Chip crisis will come again, especially YZJ who just raise warrant to make market doubt his financial ability.
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