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NOL
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sgng123
Supreme |
03-Dec-2015 20:58
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massive losses for shortists and massive gain for investor lol. |
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sgng123
Supreme |
03-Dec-2015 20:53
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from ur equation add another S$1.41 ( US$1.0 per share) then it correct. |
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sgng123
Supreme |
03-Dec-2015 20:50
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u never include the net cash US$2.6B it in the balance sheet.
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granto
Master |
03-Dec-2015 20:49
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CMA CGM gets financing for NOL takeover: http://splash247.com/cma-cgm-gets-financing-for-nol-takeover/ |
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sgng123
Supreme |
03-Dec-2015 20:49
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how much u gona lose shorting lol. u just ignor the net cash NOL had and assumed US$3B gona be deducted from the final bid offer lol. u never ask why TH sell away APLL first before selling NOL, it is to balance the debt so they can sell the debt to the buyer too boosting the final bid price. CMA had to buy over the debt + share capitalisation, and the debt thing is full covered by net cash. And yes the buyers would walk away with the net cash too plus debt which basically cancel each other out. The term Debt is badly used here cos it make people believe u had to deduct it from final price but again i need to mention the term debt is used becos in business everyone is using debt to finance purchase and it do not meant that they don had cash. IT is business lah, everyone would like to own other money while keeping cash ammo for future opportunities. NOL debt to cash ratio = 1.03 that meant Debt = net cash so they basically cancel each other out and buyer need to buy over the debt too not deduct it away lol. This is term used in banking finance, quite confusing at first but once u know how they work it easy. businessmen always like to own other money and keeping net cash to meet any unforseen happening. NOL got US$3B debt and net cash US$2.6B .
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Huataarrhh
Senior |
03-Dec-2015 20:48
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Shortists who shorted are not going to earn much, but long term shareholders are going to curse this deal
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lglg666
Supreme |
03-Dec-2015 20:48
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If that's the case then it will be around 1.77 even if round up to 1.75 this is still be better than the earlier offer of 1.50 which was rejected by TH. At this moment this is all just speculation, let's see the actual offer when the deal is done.
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Huataarrhh
Senior |
03-Dec-2015 20:46
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Yup I got the around same price of $1.15 Total debt US$2.872983 billion 5 - 2.872983 = US$2.127017 billion for shareholders No. of shares = 2.601218 billion Offer price per share = US$0.818 = S$1.15 @ exchange rate of S$1.41 per US$ Looks like going to gap down tomorrow
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mrwise
Supreme |
03-Dec-2015 20:42
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Patient is the key to success.... Shortist...having sleepless night now.... Have warned them many times....too late now.... |
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mrwise
Supreme |
03-Dec-2015 20:40
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Markets | Thu Dec 3, 2015 6:30am EST UPDATE 1-France' s CMA CGM secures bank funding for NOL takeover-sourcesBy Gus Trompiz and Saeed Azhar Dec 3 French shipping giant CMA CGM has obtained firm commitments from banks to finance the takeover of Singapore' s Neptune Orient Lines (NOL) , which has a market value of $2.2 billion, two people familiar with the deal said. CMA CGM, which is in exclusive talks to initially buy nearly 67 percent of NOL from state investor Temasek Holdings, has tapped lenders including HSBC, BNP Paribas and JPMorgan to help finance the transaction through a syndication process, the sources said. Family-owned CMA CGM is ranked as the world' s third-largest container shipping firm and a takeover of NOL would boost its position on transpacific routes at a time when operators are struggling with overcapacity and low freight rates. ...............read more at Reuters.com |
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Integrity
Elite |
03-Dec-2015 20:32
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After going through some calculation based on NOL last quarter Financial Report. Assuming the deal valued at US$5b as reported, total shares price is about US$2.1b which work out to be SGD$1.14 per share. |
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sgng123
Supreme |
03-Dec-2015 20:25
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don worry too much, had a good dream where u wake up knowingu be richer by hundred of thousand. Once WSJ release the proposed figure i know it somewhere there, the detail part we don need to worry about. Ah Gong spirit and Temasek would do their best to unlock NOL asset value and let us all Huat. Always look at headline figure and ignor the detail, it just too complicated for us to follow since we don know how they classify debt.cash etc. Selling off APLL is first step to balance NOL debt level is all u need to know, rest leave it to AGM lol. Mine post is also only ah ga ah ga one from 3Q report but most likely more acurate from shortist who must by now in heart attack mode cannot sleep cannot eat lol. |
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Doffy85
Senior |
03-Dec-2015 20:14
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Hi sgng123,
As per your explanation, so 2.6b cash has offsetted. So left 0.4b debt. That's means left over of 4.6b / 2.6b shares.. actually could you give an indicative price calculation with the figures.. I would determine the starting flow at market open.. sorry vested at high and with 500 lots I'm panicking if it's good or bad
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sgng123
Supreme |
03-Dec-2015 20:14
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That is how accountant put up their balance sheet, debt + share capitalisation = sale price in which the debt is already covered by cash. Since nobody paid full and everyone using debt to fund their purchase so it had to be classify under debt. So in short accountant include debt + share capitalisation as the final purchase price CMA need to cough up with. Just follow the headline purchase price, by the way NOL debt to cash ratio = 1.03 this meant debt is fully covered by cash. IT the accounting way of valuation. Study accounting before and u know what i am talking about.
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rlong8288
Master |
03-Dec-2015 20:14
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Your explanation make sense, cheers
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ascend88
Master |
03-Dec-2015 20:10
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Should be halt soon ... News is reporting everywhere now ... Even on CNBC | ||||
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sgng123
Supreme |
03-Dec-2015 20:08
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follow the headline US$5B deal, the inside detail on how they classify the deal we don need to know. CMA is buying NOLat US$5B in which debt at US$3B share capital US$2B, the headline sale price is what we concern with. This is a practise on accounting where deal include debt and share capital, don need to dig deeper. Just prepare for tomorrow trading halt that all , u cannot do anything buy or sell. By the way NOL had net cash of US$2.6B, used it to offset the US$3B u still get something close to US$5B so no biggies lol. As always it is a accounting practise there, nothing to worry about.
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mrbean249
Senior |
03-Dec-2015 20:02
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I feel this actually makes more sense. Btw it should be 2.6b shares, so 4.1/2.6 = around 1.57
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kagekage
Member |
03-Dec-2015 20:00
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But Temasek reject offer of $1.5, how would they accept $1.4 now??
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Doffy85
Senior |
03-Dec-2015 19:56
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Can anyone correct me if I am wrong in this calculation. Presuming debt is in sgd. 7.1b - 3b = 4.1b .... 4.1b /2.9b shares = 1.40 | ||||
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