On behalf of the Company, M&A Securities is pleased to announce that at the close of acceptance and payment for the Rights Issue with Warrants as at 5.00 p.m. on 13 February 2015 (“Closing Date”), Insas has received valid acceptances and excess applications for a total of 162,390,666 RPS. This represents a subscription level of 122.47% of the total number of RPS available under the Rights Issue with Warrants.
I bought Insas-or last month, If RPS oversubscribed, we may fail to own this RPS?
Only 91% exercised their rights, meaning there is another 9% up for grab. If you have applied for the excesses, it is likely you will get a small fraction that rounds up your holding of PA & Warrant.
The last time when Inari was at RM3, Insas was trading at about RM1.2+ and holding fewer shares and warrants in the former. Since having the rights issue, price is >30% down despite better value now. Insas warrants hardly dilutive yet but will soon be when the mother share hits RM1 again.
Assuming that u r buying a piece of under utilized property. The valuation should be based on NTA or Graham NNAV/ NNWC. If u r buying a piece of fully utilized property, then the pricing would be different. Valuation should be based on how much incomes it can generate.
Nta increaSe .. 1.83 from 1.80 .. So far is ok ! Because it is a earning n not a loss .. Have to look back to inari / ho hup .. PE around 6.3 base on 90 cents mother share price compare with others counter consider positive .. nta can make a reference as a target price . If INSAS now is $1.8 .. PE only 12.6 above .. Below 15 !
oregami...this one dont even have div payout policy...cant see a good hearted management...except self interest. They probably manipulate the earnings to buy cheap..and sell higher (say at 1.20 - when people think its still cheap and buy).
Revenue increased by 28mil Q to Q but cost of sale & operating expenses increased by 32mil. Suffering losses in derievatives & exchange. Investment segment kills Insas this Q.
Introducing MY's First IPO Fund for Sophisticated Investors!
MQ Chat
New Update. Discover investment communities that resonate with your ideas
MQ Trader
M & A Value Partners IPO Equity Fund has been launched - Targeted 13% Return p.a
Latest Videos
0:17
New IPO: Building management systems (BMS), solar thermal systems and energy-saving services provider, Solar District Cooling Bhd aims to list on the Ace Market!
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
r°Moi
5,802 posts
Posted by r°Moi > 2015-02-23 18:30 | Report Abuse
Tense moment...............