Hengxin Technology

[dydx]

Hengxin has recently secured SGX's approval for its planned secondary listing on SEHK.....
http://info.sgx.com/webcoranncatth.nsf/V...7000033E7/$file/Hengxin_InPrincipalApprovalFromSGX.pdf?openelement
and has called for an EGM on 27Oct10 to seek shareholders' approval for the same.....
http://info.sgx.com/webcoranncatth.nsf/V...20017D3C4/$file/hengxin_NoticeOfEGM_05102010.pdf?openelement
and a 146-page Circular containing, among others, full details of the proposed secondary listing exercise has been sent out to shareholders.....
http://info.sgx.com/listprosp.nsf/bc9c2d...5000a8f20/$FILE/HX%20Circular%20(2010%2010%2001)%20(v3)%20clean.pdf

A relevant question: Assuming Hengxin secures all the other necessary approvals and goes for the secondary listing on SEHK, would the Offer Price be pitched higher or lower than the HKD-equivalent of Hengxin's latest NAV/share of Rmb2.13 (now equivalent to SGD0.417) as at 30Jun10?

I guess it is also useful to review Hengin's latest Q2/H1-FY10 results announcement.....
http://info.sgx.com/webcoranncatth.nsf/V...D00237FA9/$file/Hengxin_Technology_Ltd_2QFY2010.pdf?openelement
to have a feel on the likely market reception in SEHK on the proposed secondary listing there, as well as the potential impact on this counter's price on SGX.

[dydx]

Today Hengxin has secured shareholders' approval for the proposed secondary listing on SEHK.....
http://info.sgx.com/webcorannc.nsf/Annou...endocument

From this point onwards, unless SEHK refuses approval, or the Hong Kong stock market crashes in the next few weeks, Hengxin should be listed on SEHK in due course.

[dydx]

Having secured all the necessary approvals, today (14Dec10) Hengxin launches its share offer in conjunction with its proposed secondary listing on HKSE.....
http://info.sgx.com/webcoranncatth.nsf/V...8003D2487/$file/Hengxin-Prospectus1of6.pdf?openelement

As expected, the Maximum Offer Price fixed at HKD3.00 (equivalent to S$0.503) has been pitched above the company's latest (30Sep10) per share NAV of RMB2.20 (equivalent to S$0.431).

Would Hong Kong based investors have strong interests for Hengxin? Would there be good arbitrage opportunities for Singapore based investors, when Hengxin begins dealings on HKSE on 23Dec10 (expected date stated in the prospectus)?

[secretinvestors]

Can someone educate me whether dual listing (for that matter, with regards to Hengxin) has any dilutive effect on its fundamentals? I would really appreciate if you could prove it with some illustrations if there is dilution.

Many thanks!

[pianist]

should not have if i am not wrong. one way to check is its floating shares post event

[secretinvestors]

I was initially attracted to this stock based on its valuations. However its accounts receivable is more than 60% of its current assets. That really made me think twice. Is it common for a company like Hengxin to have so much accounts receivable?

Anyone care to give some insights? Thanks!

[charlesgee]

Strange strange......... this company is greatly undervalued............ and the management tried to delist it months back.

Seems like some people are depressing the share price all the time bidding at 1000 to 10,000 shares at S$0.17-0.2. Ha Ha...... that's only S$2000.

Another case of management trying to take advantage of small shareholders by depressing share price?

[CityFarmer]

Hengxin: Executive Chairman Sold 23.27% Stake At HK$1.48 Per Share For HK$133.6 Million.
25 Sep 2014 10:19
Mr. Cui Genxiang, the executive director and the executive chairman of Hengxin Technology Ltd., as vendor, agreed to sell and Mr. Cui Wei, as purchaser, agreed to acquire the entire issued share capital of Kingever Enterprises Limited, a substantial shareholder of the Company, representing approximately 23.27% of the entire issued share capital, at a total consideration of HK$133,636,100, representing approximately HK$1.48 per share of the Company

The announcement is here
http://hengxin.listedcompany.com/newsroo...PW5I.1.pdf

[charlesgee]

Seem like waking up recently....$0.235 traded sometimes.

[cyclone]

Voluntary Delisting of the Shares of Hengxin Technology Ltd. from Singapore Exchange Securities Trading Limited

Hengxin Technology Ltd. announced that it has sought the proposed Delisting of the Company’s Shares from the SGX-ST and received a confirmation from the SGX-ST on 24 October 2017 that it has no objection to the proposed Delisting subject to certain conditions.

CDP Depositors may continue to trade their Shares on the SGX-ST until the last day of trading which is tentatively on 19 January 2018 based on the indicative Delisting timetable.

CDP Depositors who wish to trade their Shares on the HKSE may transfer their Shares from CDP to CCASS or a CCASS participant at any time from the date of this announcement.

In order for the CDP Depositors to transfer their Shares from the CDP to CCASS or a CCASS participant, they will need to do the following:
(i) to have an account with CCASS or a CCASS participant (which includes any securities brokers  (a)from a member firm of the HKSE duly authorised to buy or sell stocks listed on the HKSE, or (b)licensed in Singapore and who is able to trade on, or offer a trading facility for, the HKSE); and
(ii) to instruct your Relevant Broker, CCASS, or the relevant CCASS participant who will assist you with the Share Transfer Process.

CDP Depositors who currently do not have a trading account with a Relevant Broker should contact a Relevant Broker to enquire if they would be able to assist them in trading the Shares on the HKSE.

More details in http://infopub.sgx.com/FileOpen/Voluntar...eID=475182