From this blog, Maybamk TP is 0.16cent. Right subscription is 0.105cent, then Icon-OR listing after ex-date should be 0.055cent (0.160 - 0.105= 0.055cent). Based on @IIImNoob analysis which i verify is valid - for every one Icon share you hold now, you can get 2 Icon-OR. Then if you have 1,000,0000 Icon share now (today closed at 0.045cent), you will get 2,000,000 Icon-OR (which assuming from basis as mentioned will be worth 0.055cent each). You can get RM110,000 just by selling the 2,000,000 Icon-OR after ex-date. And you can also sell the 20,000 consolidated Icon share after ex-date at 0.16 cent (based on Maybank TP).You decide if you want to hold or buy more Icon tomorrow ? Disclaimer : If ex-price of Icon-OR lower than 0.055cent, please don't blame me, but blame Maybank TP of 0.16cent which I gather from this blog. I have not verified the TP with Maybank Invest. The whole argument above is based on this blog which mentioned Maybank TP is 0.16cent. Do you believe Maybank TP as mentioned ? If you believe the TP as mentioned, it make logical sense to buy more tomorrow since Icon is selling at 60% discount at today's price.
@monetary. I agree with you if Maybank or Public Bank TP is irrelevant or not valid, then my basis earlier is not valid. My whole argument is based on if you believe Maybank TP ? That's why I insert disclaimer in my blog. (Note : I 1st time came across that Public Bnak TP is 0.25, can @monetary share where you get it from ?).
@tkl88 Mabel, let say i got 1,000,000 (One million shares) of ICON, What will happend to my shares ? I don't understand the annoucement in Bursa company annoucement on ICON ... 13/01/2020 9:37 AM
I'm currently on vacation. Best is to rely on the team comments or check with your remiser. Still got time to check.
Anyway if anyone find out more, do share it here. I will only be back next week.
Best is W FOC. Look at SapNrg W price. No wonder Ekuinas dare fork out RM 183 million.
Posted by snwong13 > Jan 14, 2020 1:42 PM | Report Abuse . Consolidation of 50 to 1 share, then 100 RI for 1 @ 0.105 RI price! No of shares doubled, after! Price now 0.040 - 0.045 All the best!
@ 500Bilis The price of 0.1238 or as the bankers calculated TERP of 0.132 by theory based on earlier price of 0.057 before the announcement... The million dollar question is what will be the price at the end .... ? The price will of course be derived from many many factors ... it can be positive ... or it can be also negative .... maybe even lower than RI price of 0.105
after x-date, b4 right issue shares listed, Conso. mother shares = 23.54 M. OR = 2,354 M. May win very huge on 1 mother share but may also win ? or lose ? A LOT on 100 OR
" Imagine those didnt opt for RI, RM40k for 20,000 shares... "
Ppl like me wont be able to subscribe. and this is where im coming from on feeling screwed by the 100-to-1 cash call on the shareholders whereas the bankers walked away with almost no haircut (the big ones anyways).
RHB donate a 0.01% haircut. Bank Pembangunan gave 1.07%. OCBC took a massive 14.9% haircut. Maybank islamic walked off with 0.72%. Short term syndicate bankers donate 0.01%. Maybank took 5.09% haircut. affin took at 39% hit. ocbc (labuan) suffered with 46% haircut.
overall haircut for the banks: 2.26%.
What the fuck is this? Granted shareholders rank below bankers, but for a company in financial distress for the banks to collectively "donate" some piece or armpit hair for 2.26% of total loans is bloody fucking shite.
I vote for no go for restuructruing and let the fucking banks suffer the pain as well.
icon should consolidate share 1st , then after some period then only right issue meh... do both together at 1 shoot, so rush sell ur stock meh xD icon really tot ppl water fish ?
Look like 0.035cent is the support bottom price between now and ex-date on 22nd Jan- a mere 2 and half trading days left for those who are interested to collect or collect more ! Judgement is yours to take !
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Posted by InvestWin > 2020-01-13 18:01 | Report Abuse
From this blog, Maybamk TP is 0.16cent. Right subscription is 0.105cent, then Icon-OR listing after ex-date should be 0.055cent (0.160 - 0.105= 0.055cent). Based on @IIImNoob analysis which i verify is valid - for every one Icon share you hold now, you can get 2 Icon-OR. Then if you have 1,000,0000 Icon share now (today closed at 0.045cent), you will get 2,000,000 Icon-OR (which assuming from basis as mentioned will be worth 0.055cent each). You can get RM110,000 just by selling the 2,000,000 Icon-OR after ex-date. And you can also sell the 20,000 consolidated Icon share after ex-date at 0.16 cent (based on Maybank TP).You decide if you want to hold or buy more Icon tomorrow ? Disclaimer : If ex-price of Icon-OR lower than 0.055cent, please don't blame me, but blame Maybank TP of 0.16cent which I gather from this blog. I have not verified the TP with Maybank Invest. The whole argument above is based on this blog which mentioned Maybank TP is 0.16cent. Do you believe Maybank TP as mentioned ? If you believe the TP as mentioned, it make logical sense to buy more tomorrow since Icon is selling at 60% discount at today's price.