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Li Heng Chemical Fibre Technologies
23-12-2015, 11:13 AM.
Post: #1
Li Heng Chemical Fibre Technologies
A special S-Chip which was overlooked by VBs.

Company Description in Brief
Li Heng Chemical Fibre Technologies Limited ("Li Heng") is one of the largest integrated nylon producers in the People's Republic of China (the "PRC"). As one of the leading manufacturers of high-end nylon fibres, our integrated manufacturing facility is fully self-sufficient in producing Polyamide Chips ("PA chips"), an important and major raw material for the production of our nylon yarns.

The high-end nylon yarns are manufactured under 2 brand names, 力源 (Liyuan) and 力恒 (Liheng), which cater to the fabric and textile manufacturers in the main textile production hubs in the PRC, namely Fujian, Zhejiang, Guangdong and Jiangsu Provinces. 

Currently, we operate our two production facilities in the Binhai Industrial Zone (滨海工业区) and Liyuan Production Facilities in Jinfeng Industrial Zone (金峰工业区), which are strategically located in Changle City, Fujian Province. To date, our Liheng Production Facilities and Liyuan Production Facilities have a total production capacity of approximately 261,200 metric tonnes (“mt”) of nylon yarns per annum from the 61 nylon POY/ HOY/ FDY production lines, and 34 units of nylon DTY texturising machines. We completed our vertical integration with the production of PA Chips since 2009. Our two state-ofthe-art production facilities are capable of delivering a total annual capacity of 170,000 mt of PA chips per annum.

Voluntary Unconditional General Offer

For each Offer Share: SGD 1.00 in cash. This is : 
* 115.1% premium over last transacted price on 21 December 2015 of SGD 0.465
...
* 58.7% premium over VWAP for the twelve-month period up to the date prior to the Offer Announcement Date of SGD 0.63

I took a look at its historical chart, majority of the shareholders should earn a decent return. Congratulation.
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Specuvestor: Asset - Business - Structure.

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23-12-2015, 11:21 AM.
Post: #2
RE: Li Heng Chemical Fibre Technologies
NAV per share = 11.17 RMB or about 2.574 SGD.

General Offer at P/B = 1/2.754 = 0.389. I wonder I should congratulate or not.
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Specuvestor: Asset - Business - Structure.

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23-12-2015, 11:50 AM. (This post was last modified: 23-12-2015, 11:53 AM by kbl.)
Post: #3
RE: Li Heng Chemical Fibre Technologies
Good morning Cyclone san and everyone.

Li Heng 12th March 2008 IPO price 80c

http://singapore-ipos.blogspot.sg/2008/0...ogies.html

Share Consolidation Offer of 1 For 5

http://infopub.sgx.com/FileOpen/LiHeng_P...eID=339889

I think majority of shareholders kena OBK.

<Not Vested>
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Not a call to Buy or Sell

Mr Bump: All I Can Smell Is My FEAR

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23-12-2015, 11:54 AM.
Post: #4
RE: Li Heng Chemical Fibre Technologies
Good morning kbl san. Thanks for the info.
=========== Signature ===========
Specuvestor: Asset - Business - Structure.

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23-12-2015, 12:00 PM.
Post: #5
RE: Li Heng Chemical Fibre Technologies
Years back it used to trade around 40 ct when the major SH wanted to take it private but was not approved by SGX. Then price drifted down, down...due to S-chips scandals.

After 5 to 1 consolidated, meaning working backward, it should be 20 ct, so multiplied by 5 become $1 = offer price.

If using 40 ct multiplied by 5, the price benefiting the minority holders should be $2.

So this major SH laughed all the way to the bank?

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23-12-2015, 02:45 PM.
Post: #6
RE: Li Heng Chemical Fibre Technologies
(23-12-2015, 11:50 AM)kbl Wrote: Good morning Cyclone san and everyone.

Li Heng 12th March 2008 IPO price 80c

http://singapore-ipos.blogspot.sg/2008/0...ogies.html

Share Consolidation Offer of 1 For 5

http://infopub.sgx.com/FileOpen/LiHeng_P...eID=339889

I think majority of shareholders kena OBK.

<Not Vested>

So the offer px is 20 cents before consolidation. That's only 25% of the IPO px of 80 cents for long term shareholders. 

Is SIAS gg to do anything about this? (Pun intended)  Tongue
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There are no good stocks. Stocks are only good when they go up after you bought them.

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23-12-2015, 03:13 PM.
Post: #7
RE: Li Heng Chemical Fibre Technologies
(23-12-2015, 02:45 PM)level13 Wrote:
(23-12-2015, 11:50 AM)kbl Wrote: Good morning Cyclone san and everyone.

Li Heng 12th March 2008 IPO price 80c

http://singapore-ipos.blogspot.sg/2008/0...ogies.html

Share Consolidation Offer of 1 For 5

http://infopub.sgx.com/FileOpen/LiHeng_P...eID=339889

I think majority of shareholders kena OBK.

<Not Vested>

So the offer px is 20 cents before consolidation. That's only 25% of the IPO px of 80 cents for long term shareholders. 

Is SIAS gg to do anything about this? (Pun intended)  Tongue

SIAS will tell u, u must be their member first.....
After u become their member, they will shout for u like SIA-Tiger case....
Then kena slapped again by the Offeror.....
End of story  Big Grin

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