ipo price is massively overvalued, initially priced at 8.00, then changed to 6.50, something is fishy there already,now in the market , the price is around 4.50 more reasonable , as the NTA is also around 4.50.
Dulu Titan Chem only had 1.7b shares outstanding & was taken over @ 1.85. Now the (inferior) replacement has 2.7b shares outstanding and was IPO-ed @ 6.50(they even tried to makan ppl for 8.00). Doesn't anyone smell a con job here?
Fun manager still praying for miracle to happens they may be haven't realized this is a well planned trap from the very beginning All the step sound super suspicious from IPO to valuation to the bad quarterly result, finally the no water reason given by the management in just less than one month How could they still can accept something dramatic like this to happens? And they even hire stabilizing agent for fork sake
If it was Japanese company, we would see someone head is rolling on the floor already But for Korean company, we still can see some idiot still come out and protest the valuation is good :)
Time for relevant authority to investigate. Listed date and results announcement date is simply to close, parties involved in the process are not aware? Century joke and should not support this type of company even you may able to get some profit. Market discipline needs investors to discipline it if those responsible is unwilling so. Good luck to all.
That is why DIGNITY is no important loh...!! That is also why Japanese don't try to list and con money of people in another country other than their own loh...!! Why Koreans like that? LMAO
According to an English daily, quoting Lotte Chemicals president Lee Dong Woo, the company was not aware that the water disruption at its plant would have a huge impact to the second quarter ended June 30 bottomline. He also said the company only know the full impact in mid-July, which was after the company has already been listed.
@CKCS ; @Jeffreyteck it's appropriate that the equity market regulatory authorities-SC,Bursa send an official letter to Lotte and instructs them to disclose the full details with supporting documents.Examination on their written records and submissions has to be made and disclose to the public within a reasonable period. 2.Not inadequate just to monitor how the development of Lotte's market price in the market but to do the necessary. 3.Market don't like this type of surprises that comes too soon between the date of the water disruption and the IPO issuing date to the date of QR2 announcement. 4.As one of the largest conglomerates in South Korea and because the plant operation is a major hazard installation( Risk level- Very High) a higher standard of duty of care and compliance from the operator is expected.Not only essential but to be properly uphold at all times.
This is a pure con co. mah. Also hard sell by failed salesman ChongJiauJau who has no dignity by deleting all his bragging posts....no dignity salesman with no dignity co.
@gcke... TQVM. we all know the efficiency and effectiveness and willingness of some people vetted with power. Some investors commented there are so many stocks why must invest in this particular one. The issue here is whether there is any compliance and disclosure issues to ensure market disciplines are obeyed by companies and management and participating agencies, and investors are well protected. Investors must exercise their rights to ensure an orderly market in this country and look beyond profit and loss. In certain country, the issuers may have to pay the different between issuing price and the appropriate price fixed by authority, claw back fees paid to participating agents including underwriters, audit firms together with two times of fees amount as a fine, and banned those involved permanently from their respective industry. Happy weekend and good day ahead.
@Jteck... well written piece. SC should now initiate enquiry as to how LCTI is not aware that water disruptions will impact their bottom line for Q2. There is obviously compliance and disclosure issues here and MIB owes investors an explanation as the Principal Advisor for this IPO.
See Lotte website. BOD members only have photo frame without actual photos, no face to see SH. Indication of disclosure quality and standard. Click before amendment made.
Too late to talk now. Not first time and won't be last IPO to con investors.
Prudent2 @Jteck... well written piece. SC should now initiate enquiry as to how LCTI is not aware that water disruptions will impact their bottom line for Q2. There is obviously compliance and disclosure issues here and MIB owes investors an explanation as the Principal Advisor for this IPO. 06/08/2017 10:38
old new already, but LCtitan is making polymer, their customer are factory. the impact is lesser compare to other business face to impulsive china retails buyer. however i still wondering what is the real reason why Lctitan want to relist again??
The Edgeweekly:- PNB & Eastpring are probably nursing their wounds.
While the crash of the Titan took place, that top guy in Lotte defended himself by saying he thought all those issues are immaterial. He further said $6.50 is a bargain.
Institutional investors complained that Lotte did not highlight the implication of TRES that wipe out 22 million loss to its earnings during their roadshow prior to listing
The earlier 1st qtr saw the one off super-normal profit of 44 million on butadiene. This qtr saw a drop in profit because normalisation of prices.
The well known excuse is of course the cut in water supply which resulted in a fall in 72 million in profit.
Analyst have thus got their forcast off the mark.
Looking ahead: the 3rd qtr will be dampened by the scheduled overhaul of its first Nafta cracker.
Listing cost of $100 million will be booked in the 3rd qtr
Normalisation of butadiene prices means profits should be much less than the first qtr.
1. Top guy failed the fit and proper test as he can't even know disruption impact on the bottom line? Who defines materiality? 2. BOD members photos not in its website, only provided photo frame, indication of level of transparency and disclosure standard OR no face to see investors? 3. Those involved in the process of IPO, that revealed your level of competencies and still owe public an acceptable explanation or remedial action? You also don't know disruption impact or don't know how to calculate and determine what material means? What is your valuation approach in deriving the price and is it inclusive of uncertainty elements? 4. Those who are still observing need to take how long to complete observing or just wanted the issue to fade naturally as if no issue happened? 5. Minority watch dog role needs to revisit? Not just dissemination of info as many can do that.
After privatised 6 years ago at low price RM 2 relist at 6.5-8 made the Koreans 3-4 times richer why not?(what is the real reason why Lctitan want to relist again??)
profes_lms old new already, but LCtitan is making polymer, their customer are factory. the impact is lesser compare to other business face to impulsive china retails buyer. however i still wondering what is the real reason why Lctitan want to relist again?? 07/08/2017 08:37
Lottetitan is not a simple reincarnation of olden day Titan,it is a different set up backed by Korean chemical technology.and research.With petroleum price continues to stay low for long period of time ,petrochemical industry can be benefited as low cost of raw materials persists.
Perhaps you should ask relist counters like Malakof, Astro, etc do they have good performance post relisting?
Posted by enning22 > Aug 7, 2017 11:27 AM | Report Abuse Lottetitan is not a simple reincarnation of olden day Titan,it is a different set up backed by Korean chemical technology.and research.With petroleum price continues to stay low for long period of time ,petrochemical industry can be benefited as low cost of raw materials persists.
Finish loh....!! The koreans lured many Ah Beng with their kpop dance girls. That is why don't be fooled by the Koreans loh....!! Dangerous times ahead
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: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
MQ Trader 704 views | 3 d ago
0:17
New IPO: An enterprise IT solutions provider that provides implementation services, maintenance, support and professional services, Vetece Holdings Bhd aims to list on the Ace Market!
MQ Trader 675 views | 7 d ago
0:17
New IPO: A manufacturing and trading of biomass fuel products, particularly PKS and wood pellets company, Elridge Energy Holdings 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....
enning22
2,898 posts
Posted by enning22 > 2017-08-04 12:23 | Report Abuse
ipo price is massively overvalued, initially priced at 8.00, then changed to 6.50, something is fishy there already,now in the market , the price is around 4.50 more reasonable , as the NTA is also around 4.50.