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China Fishery - Low PE
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Leongsan
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29-Nov-2014 10:17
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Rights may not be a bad thing.PA 200m=70%. CF rights 100%=285m. ! for 1 at 15 cents? |
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flyfox
Member |
29-Nov-2014 09:39
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The trendline may not hold though, u so confident. Cf just need a rights issue to bring it down...
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stockpicker
Master |
29-Nov-2014 07:43
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That 0.245 is near the lower trend line where CF will be heading. Still no sign for a recovery yet. |
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flyfox
Member |
29-Nov-2014 00:56
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Why u target 0.245?
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colorfulfilm
Member |
28-Nov-2014 23:09
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https://www.dropbox.com/s/4d85948xwbroa6n/china fishery 28.11.2014.png?dl=0 share my charting of CF for reference. This is weekly chart. In the past, there are three times big vol. It is definely not retailer investor. I dare say this is last washing. Cos the vol of weekly chart can' t be cheating. Planing to make full position once at/below 0.245. My logic is mother PA financing, feed son CF. CF becomes good, PA is also outperformance. Welcome different points!!! |
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EZ3626
Veteran |
28-Nov-2014 15:12
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Flyfox, something is happening at the other side of the PA camp. Still monitoring the ground ... Wow ... God is in the midst since you mentioned about devil ... cannot exist without the other .... |
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stockpicker
Master |
28-Nov-2014 14:40
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That appeared to be the role of the underwriters, undertaking the risk for a fee of 3.5% but the devil is in the details of the undertaking agreement.
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flyfox
Member |
28-Nov-2014 13:06
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anyway since those banks are bookrunner for the PARD rights .. if they are not taken up, the banks have to subscribe for all the rights isit? |
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EZ3626
Veteran |
28-Nov-2014 12:24
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Read carefully ... If the parent company is strengthened financially it will also boost China Fishery' s standing. Anyway market will decide ... One must learn to ride the wind of Change 15:57 hrs
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stockpicker
Master |
28-Nov-2014 10:30
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You think the PARD will raise debts for CF to use at their expense.. think more..to take up the rights issue to be raised by CF. |
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stockpicker
Master |
28-Nov-2014 10:27
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Please check before you write. I said it is a zero sum gain to raise debts to redeem bonds which only expires in 2017. Since they had no consent of the banks, they would have to raise the debts if solicitation failed and debts have always been a problem.. not the bonds.
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EZ3626
Veteran |
28-Nov-2014 09:55
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Anyway not sure what you mean interest at stake when the parent company has raised the money ??You were the one who said debts, bonds not the problem. Need to filter the noises and hear clearly. Will wait |
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stockpicker
Master |
28-Nov-2014 09:43
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The Bankers are pragmatic. No challenges will move them unless their interests are at stake. They will choose btw bailing and selling out |
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EZ3626
Veteran |
28-Nov-2014 09:04
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They may not lend ... how about a dollar to dollar funding from the bank or strengthening CF financial strength to borrow cheap money. Indirectly there is no exchange of money rather support and/or assist China Fishery Group Limited in the redemption of the Copeinca Notes. Afterall, they have 80% holding in CF. CreditSights said " bond coupon above 10 percent as " expensive," It is time to lower the cost of finance Just a thought, not forgetting ... money coming back from Russian pollock and Revenue from enlarged Peruvian Fishmeal Operations grows 162.5%, Gross profit increased by 41.6%, Group remains focused on further Integration of fishmeal operations, Increasing asset utilisation and reducing interest expense Will watch and see |
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stockpicker
Master |
28-Nov-2014 09:00
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The way PARD priced the rights is suicidal @ 0.51. They knew the price would drop from 103 to 80 losing market cap of over $ 1.0 bil but they still went in. This will frighten some new investors also in CF who now expected rights in CF. Global Thermal, Cap IIIA, Mano & Star are considered suckers now and may just dump and forget about this stock like many forumers here. Think PARD is not wise but it appears that it has no other choices. |
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stockpicker
Master |
28-Nov-2014 07:00
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That PARD' s proposal statement is full of uncertainties on how to redeem the Copeinca bonds which investors just dun like. They priced in the worst scenarios i.e. issuing rights. Lend money as inter-company loan will not go well with PARD' s shareholders, afterall, $250 mil is not a small amount and the loss in market cap of PARD for raising the rights now amounted to $1.5 bil @ 0.72. |
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EZ3626
Veteran |
27-Nov-2014 23:26
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Flyfox, this is what Pacific Andes Resources Development has said " The Company intends to utilise the net proceeds $195.5m of the rights issue for general working capital purposes and/or reduction of the Company&rsquo s and/or the Group&rsquo s borrowings (including, mainly to support and/or assist China Fishery Group Limited in the redemption of the Copeinca Notes and to repay the existing loan facilities) which may be effected through inter-company loans and/or by way of possible capital injection in one or more subsidiaries within the Group." Choice of words are very precise - support and/or assist. Flyfox, you are right Opportunists are trying to confuse and capitalise on the situation as usual ...... SP thought I went in at 0.295 .... no way. Manage to hold and exit Yuuzoo. Cannot anyhow hop ... will wait for clear signal |
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flyfox
Member |
27-Nov-2014 21:35
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What u ve just said doesnt make sense. You see: if CF rights, PARD will subsrcibe. means that money will still flow out of their pocket. Borrow money to CF, money will still flow out. As PARD owns close to 80%, it really doenst make a difference.
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flyfox
Member |
27-Nov-2014 17:42
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So that probably explains why CF drop so much...beacuse afraid of rights... |
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Leongsan
Senior |
27-Nov-2014 17:26
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2 possbilities: either pard help to pay copeinca loans by lending money to cf at low interest rate OR cf having a rights for pard to subscribe? Pard own loan note interest rate is high. 8.75%. Rights likely
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