Chart: CPO's weeky chart as at Feb 17, 2011 (source: ifs.marketcenter.com)
Based on the positive technical outlook for CPO, we should increase our position in the Plantation sector. My preference is for stocks that are presently trading within the band of RM2.00 to RM3.00. These include TDM, RSawit, HSPlant, IJMPlant, KMLoong & SWKPlant.
2 comments:
I remember the fllwg details on Hap Seng Cons. plans to raise abt RM1.46 billion.
1). private placement of abt 124m shares at RM6.43 (discount 10% x RM7.21)
2). abt 1.49 billion bonus shares (2 for every 1 exist)
then
3). RI of 448m shares @ RM1.46 w/ 446 m free warrants.
Can you offer some light why HSC would allow the price to slide below RM6.43..?
Now with share price trading at RM6.15, does the private placement price offer still hold..?
If so, wouldn't retail investors buying from the market get a better deal..?
Appreciate yr thoughts on these..
Hi Remnant 613
Hapseng is a pretty big company. It is not easy to 'keep' its share price at the desired level, unlike some small-cap stocks.
Hapseng has been consolidating since mid-January. The stock is now trading very near to its strong support at about RM6.00-6.10. This could be a good entry level for a trading BUY.
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