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Mermaid Maritime
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Mermaid Maritime
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Pinnacle
Master |
15-Oct-2007 23:15
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Its everybody guesses... DJ is below water now, but Thai stocks in 11years peak. So don't jump in blindly unless you have deep pocket. |
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178investors
Veteran |
15-Oct-2007 22:38
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bad news can sometime be good news while good news can become bad too, the stock markets are full of intrigues. easy or hard to get ipo normally affect its initial few months performance but their fortunes can turn like kites, unpredictably. once hot stocks become rotten , while sometimes some god-forsaken stocks can just take off like rockets. as for mermaid, i dont know how this one will do. may be good idea to accumulate on more bad news. bad news can be good news for contrarians. but if it zoom up from day one, too bad liao, to jump in or not ??? hope everyone prosper together in this stock market. |
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edwinjup
Master |
15-Oct-2007 21:06
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don't rush to buy if you did not get the ipo, forget and forgave! |
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puntwcare
Member |
15-Oct-2007 20:46
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Mermaid got what she wanted 1.56, the rest is your problem. |
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Pinnacle
Master |
15-Oct-2007 20:39
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short this bugger on debut... 
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787180
Master |
15-Oct-2007 20:04
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15 Oct 2007 14:52 CST DJ MARKET TALK: Mermaid Maritime May Have Lackluster SGX Debut 0652 GMT [Dow Jones] Mermaid Maritime (DU4.SG) may have muted debut on SGX tomorrow despite renewed interest in IPOs after Fed's recent rate cut, says foreign brokerage dealer. Thai-based company, which provides drilling, sub-sea engineering services to oil & gas sector in Southeast Asia, offered 140 million shares at S$1.56 each, translating to historical P/E of 36X. Subscription details will be out later but it doesn't look encouraging, dealer says; "the fundamentals are not very good - two of their ships got hit by a fire in the second half of 2007, they'll be out of service for the rest of the year, they'll buy new ships only in 2009, and they're on a high earnings multiple." Company says in prospectus crane boom incident in September last year resulted in downtime of about 2 months, while fire outbreak in June 2007 caused stop-work until September; expects both incidents to "adversely affect the utilization rates of our tender rigs" and results for FY07 ended September.(FKH) plus weak sentiment from Uniasia Fiasco....quite easy to get..no gd |
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Pinnacle
Master |
15-Oct-2007 19:12
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APPLICATION RESULTS FOR THE SINGAPORE PUBLIC OFFER To ensure a reasonable spread of shareholders, the Global Coordinator, in consultation with the Company, have decided that successful applicants who submitted valid applications for the 7,000,000 Offering Shares under the Public Offer complying in full with the terms and conditions set out in the Prospectus, and who have been successfully balloted, will be allocated all or a proportion of the Offering Shares for which they have applied. The allocations are as follows: Range of Offering Shares Balloting ratio Number of Offering Percentage of total number of Number of successful applied for (?000) Shares allocated per Offering Shares available under applicants successful applicant (?000) the Public Offer (%) 1 14:99 1 3.5 248 2 to 9 15:99 2 12.5 436 10 to 49 20:99 5 40.8 571 50 to 99 25:99 6 13.7 160 100 to 499 30:99 10 21.9 153 500 to 999 35:99 15 3.6 17 1,000 and above 40:99 35 4.0 8 |
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Pinnacle
Master |
15-Oct-2007 19:08
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MERMAID MARITIME PUBLIC COMPANY LIMITED Offering in respect of 140,000,000 Offering Shares (subject to the Over-allotment Option) Public Offer size: 7,000,000 Offering Shares Offering Price: S$1.56 per Offering Share THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE AN INVITATION OR OFFER TO PURCHASE OFFERING SHARES. OFFERING PRICE Following the close of the Public Offer (as defined in the prospectus dated 9 October 2007 and registered by the Monetary Authority of Singapore on 9 October 2007 (the "Prospectus")) at 5:00 p.m. (Singapore time) on 11 October 2007, Mermaid Maritime Public Company Limited (the "Company") and Macquarie Securities (Singapore) Pte Limited (the "Global Coordinator") are pleased to announce that the Offering Price (as defined in the Prospectus) has been fixed at S$1.56 per Offering Share (as defined in the Prospectus). ALLOCATION BETWEEN THE PUBLIC OFFER AND THE PLACEMENT Taking into consideration the applications for Offering Shares and the indications of interest received, and to ensure a reasonable spread of shareholders, the Global Coordinator, in consultation with the Company, has decided that the aggregate of 140,000,000 Offering Shares will be allocated as follows: (1) 7,000,000 Offering Shares pursuant to the Public Offer; and (2) 133,000,000 Offering Shares pursuant to the Placement. In addition to the abovementioned allocations, the Global Coordinator has over-allocated 18,000,000 Shares (as defined in the Prospectus), all of which are allocated to the Placement. To allow, among other things, sufficient time for the allocation of Offering Shares to overseas investors to be completed, an announcement of the allocation and spread of investors in respect of the Placement will be made via SGXNET before the commencement of trading in the Shares on the Singapore Exchange Securities Trading Limited (the ?SGX-ST?) which is expected to be at 9:00 a.m. (Singapore time) on 16 October 2007 (the ?Listing Date?). INDICATIONS OF INTEREST RECEIVED At the Offering Price of S$1.56 per Offering Share, the applications received from the Public Offer and the Placement were approximately 3,400,262,000 Offering Shares. Based on the total offering size of 140,000,000 Offering Shares, the Offering (as defined in the Prospectus) (excluding the additional 18,000,000 Shares that were over-allocated) is approximately 24 times subscribed. OVER-ALLOTMENT OPTION AND STABILISATION For the purposes of Regulation 3(2)(f) of the Securities and Futures (Market Conduct) (Exemption) Regulations 2006, it is hereby announced that, in connection with the Offering, the Company has granted the Global Coordinator an Over-allotment Option (as defined in the Prospectus), exercisable by it in full or in part on one or more occasions no later than the earliest of (i) the date falling 30 days from the Listing Date; or (ii) the date when the Global Coordinator has bought on the SGX-ST an aggregate of 18,000,000 Shares, representing not more than 15.0% of the total Offering Shares, to undertake stabilising actions; or (iii) the date falling 30 days after the date of adequate public disclosure of the Offering Price, to purchase up to an aggregate of 18,000,000 Shares (representing not more than 15% of the total Offering Shares) at the Offering Price, solely to cover the over-allotments, if any. In connection with the Offering, the Global Coordinator may over-allot Shares or effect transactions which stabilise or maintain the market price of the Shares at levels above those that would otherwise prevail in the open market. Such transactions may be effected on the SGX-ST and in other jurisdictions where it is permissible to do so, in each case in compliance with all applicable laws and regulations, including the Securities and Futures Act, Chapter 289 of Singapore. The number of Shares that the Global Coordinator may buy on the SGX-ST to undertake stabilising action, shall not exceed an aggregate of 18,000,000 Shares representing not more than 15.0% of the total Offering Shares. However, there is no assurance that the Global Coordinator (or persons acting on behalf of the Global Coordinator) will undertake stabilisation actions. Stabilising, if commenced, may be discontinued at any time and shall not be effected after the earliest of (i) the date falling 30 days from the Listing Date; or (ii) the date when the Global Coordinator has bought on the SGX-ST an aggregate of 18,000,000 Shares (representing not more than 15.0% of the total Offering Shares) to undertake stabilising actions; or (iii) the date falling 30 days after the date of adequate public disclosure of the Offering Price. An announcement will be made if and when the Over-allotment Option is exercised. |
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ghlau935
Veteran |
15-Oct-2007 16:40
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DJ MARKET TALK: Mermaid Maritime May Have Lackluster SGX Debut
0652 GMT [Dow Jones] Mermaid Maritime (DU4.SG) may have muted debut on SGX tomorrow despite renewed interest in IPOs after Fed's recent rate cut, says foreign brokerage dealer. Thai-based company, which provides drilling, sub-sea engineering services to oil & gas sector in Southeast Asia , offered 140 million shares at S$1.56 each, translating to historical P/E of 36X. Subscription details will be out later but it doesn't look encouraging, dealer says; "the fundamentals are not very good - two of their ships got hit by a fire in the second half of 2007, they'll be out of service for the rest of the year, they'll buy new ships only in 2009, and they're on a high earnings multiple." Company says in prospectus crane boom incident in September last year resulted in downtime of about 2 months, while fire outbreak in June 2007 caused stop-work until September; expects both incidents to "adversely affect the utilization rates of our tender rigs" and results for FY07 ended September.(FKH) |
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