Midas    Last:0.192   -

Midas

Extracts from SGX announcement on 20 Sep: ..Further to the Announcements, the Board is pleased to announce that the Listing Committee of the SEHK had on 17 September 2010 granted an approval in principle ("AIP") for the Proposed HK Listing, subject to the following conditions: (a) that the documentary requirements under Chapters 9 and 19 of the HK Listing Rules are followed; and (b) that the Listing Division is satisfied with the contents of the published version of the prospectus, (collectively, the "AIP Conditions")... ...The Board wishes to inform the Shareholders that the maximum Offer Price has been determined at HK$6.10 (equivalent to approximately S$1.05). The final Offer Price is subject to determination by the Company and the Joint Bookrunners (on behalf of the Underwriters) and will be announced on or about 28 September 2010... Anyone can advice if max offer price is low or high.. good or bad news?

 

16 September 2010 -OCBC

Maintain

BUY

Previous Rating: BUY

Current Price: S$0.995

Fair Value: S$1.29

Hong Kong secondary listing in the works?

Secondary listing could spark re-rating; Maintain BUY.

Anecdotal evidence suggests that secondary listings could spark re-ratings, especially if (i) the destination bourse offers premium valuations over a primary bourse and (ii) shares on both bourses are fungible. Exhibits 2 and 3 illustrate share price movements of two locally listed stocks in connection with their secondary listings in Hong Kong. We do not rule out a similar trend for Midas. The extent of re-rating, however, may not be as significant as the gap between Midas' valuations (19x FY10F PER) and its foreign listed railway parts manufacturing peers' (average 20x FY10F PER) is not excessive. We are keeping our BUY rating and S$1.29 fair value estimate intact pending further details of the secondary listing.Midas Holdings (Midas) has gained 11% since we singled out the stock as our preferred Infrastructure play two weeks ago, outperforming the STI's 3% increase over the same period. Part of its outperformance can be attributed to growing anticipation over the company's proposed secondary listing in Hong Kong. In its latest announcement, Midas has opted to downsize its offering to a maximum of 253m new shares (comprising 220m offer shares and 33m additional shares pursuant to an overallotment option); down from 340m new shares previously (300m offer shares and 40m additional shares). This implies potential dilution of 26% rather than 35%. The new shares should be issued at no more than a 10% discount to its SGX market price. Midas' application is currently being reviewed by the Stock Exchange of Hong Kong, and subject to market conditions, the group will commence marketing activities. Management has cautioned that there is no certainty the proposed secondary listing will materialise.

 

Seems like Midas momentum is back. Still consider whether to re-enter this counter. Anyone any suggestion?

 

Strong closing with a buy up at $1.01 of 636,000 shares

noonelikeme      ( Date: 14-Sep-2010 16:35) Posted: +0.055 i mean ....  noonelikeme      ( Date: 14-Sep-2010 16:33) Posted: it might be + 0.55 today... tomorrow might be + 0.100

 

+0.055 i mean .... 

noonelikeme      ( Date: 14-Sep-2010 16:33) Posted: it might be + 0.55 today... tomorrow might be + 0.100 leolim818      ( Date: 14-Sep-2010 16:22) Posted: Can elaborate more?

 

it might be + 0.55 today... tomorrow might be + 0.100

leolim818      ( Date: 14-Sep-2010 16:22) Posted: Can elaborate more? noonelikeme      ( Date: 14-Sep-2010 16:13) Posted: whatever happen today... might not happen tomorrow...

 

Someday, all S chip in SGX will be dual listing I suppose, and then successively someday, all S chip in SGX will be delisted from SGX after dual listing too.

noonelikeme      ( Date: 14-Sep-2010 15:54) Posted: the wonder of dual listing...

 

Can elaborate more?

noonelikeme      ( Date: 14-Sep-2010 16:13) Posted: whatever happen today... might not happen tomorrow...

 

whatever happen today... might not happen tomorrow... 

 

See the pattern of buying up (in big volume) versus selling down (in small volumn) - so there is still plenty of upside

 

15:56:05	1.010	1,000	Sell Down
15:55:51	1.020	29,000	Buy Up
15:55:25	1.010	10,000	Sell Down
15:55:11	1.010	1,000	Sell Down
15:54:48	1.020	29,000	Buy Up
15:54:35	1.010	10,000	Sell Down
15:54:29

Hulumas      ( Date: 14-Sep-2010 15:56) Posted: Does it show S chips disappointment of listed in SGX? noonelikeme      ( Date: 14-Sep-2010 15:54) Posted: the wonder of dual listing...

 

Does it show S chips disappointment of listed in SGX?

noonelikeme      ( Date: 14-Sep-2010 15:54) Posted: the wonder of dual listing...

 

the wonder of dual listing... 

 

Very strong buying forces

 

15:47:39	1.010	58,000	Buy Up
15:47:39	1.010	40,000	Buy Up
15:47:38	1.010	100,000	Buy Up
15:47:38	1.010	290,000	Buy Up
15:47:36	1.010	500,000	Buy Up
15:47:35	1.010	20,000	Buy Up
15:47:27	1.010	100,000	Buy Up
15:47:23	1.010	61,000	Buy Up
15:47:10	1.010	10,000	Buy Up
15:47:05	1.010	300,000	Buy Up
15:46:51	1.010	30,000	Buy Up
15:46:39	1.010	200,000	Buy Up
15:46:37	1.010	101,000	Buy Up
15:46:31	1.010	30,000	Buy Up
15:46:28	1.010	663,000	Buy Up
15:45:43	1.010	29,000	Buy Up
15:44:24	1.010	29,000	Buy Up
15:44:17	1.010	15,000	Buy Up
15:43:54	1.000	10,000	Sell Down
15:42:27	1.010	30,000	Buy Up

leolim818      ( Date: 14-Sep-2010 15:39) Posted: Anyone got any idea how far the price will hit for this week? Thinking to re-enter this burger again. My target price for year end is 1.30

 

Anyone got any idea how far the price will hit for this week? Thinking to re-enter this burger again. My target price for year end is 1.30

 

Strong buy up at $1 12:28:44 1.000 67,000 Buy Up 12:28:42 1.000 10,000 Buy Up 12:28:40 1.000 59,000 Buy Up 12:28:36 1.000 4,000 Buy Up

tonylim      ( Date: 14-Sep-2010 11:53) Posted: 99 touching a dollar soon !!! tonylim      ( Date: 14-Sep-2010 11:50) Posted: 11:48:32 0.985 1,000 Buy Up 11:48:26 0.980 10,000 Sell Down 11:48:03 0.980 4,000 Sell Down 11:47:59 0.985 20,000 Buy Up 11:47:54 0.985 10,000 Buy Up 11:47:12 0.985 50,000 Buy Up 11:46:52 0.985 150,000 X 11:46:40 0.985 1,000 Buy Up 11:46:28 0.980 300,000 Sell Down 11:46:08 0.980 10,000 Sell Down 11:46:05 0.985 20,000 Buy Up 11:45:53 0.985 50,000 Buy Up 11:44:51 0.985 10,000 Buy Up 11:44:03 0.985 10,000 Buy Up 11:42:26 0.980 1,000 Sell Down 11:41:58 0.980 5,000 Sell Down 11:41:39 0.980 2,045,000 Buy Up 11:38:30 0.975 10,000 Sell Down 11:38:15 0.980 10,000 Buy Up 11:38:03 0.980 58,000 Buy Up 11:35:53 0.980 10,000 Buy Up 11:35:00 0.980 40,000 Buy Up 11:33:58 0.980 10,000 Buy Up 11:31:56 0.980 6,000 Buy Up 11:28:53 0.975 10,000 Sell Down 11:27:24 0.975 10,000 Sell Down 11:27:01 0.975 14,000 Sell Down 11:26:52 0.975 5,000 Sell Down 11:25:12 0.975 10,000 Sell Down 11:24:12 0.975 5,000 Sell Down 11:23:14 0.975 10,000 Sell Down 11:20:54 0.975 10,000 Sell Down 11:20:16 0.975 40,000 Sell Down 11:19:56 0.975 10,000 Sell Down 11:19:27 0.975 312,000 Buy Up 11:18:39 0.975 3,000 Buy Up 11:18:22 0.975 57,000 Buy Up 11:18:10 0.975 10,000 Buy Up 11:17:38 0.975 2,000 Buy Up 11:16:55 0.975 50,000 Buy Up 11:16:27 0.975 100,000 Buy Up 11:15:33 0.975 30,000 Buy Up 11:14:53 0.975 100,000 Buy Up 11:11:29 0.975 12,000 Buy Up 11:09:33 0.975 60,000 Buy Up 11:08:17 0.975 7,000 Buy Up 11:07:22 0.975 58,000 Buy Up 10:59:56 0.975 5,000 Buy Up 10:59:54 0.975 30,000 Buy Up 10:59:11 0.975 20,000 Buy Up 10:58:57 0.975 23,000 Buy Up 10:57:53 0.975 10,000 Buy Up 10:53:56 0.975 1,000 Buy Up 10:53:24 0.975 20,000 Buy Up 10:53:05 0.975 1,000 Buy Up 10:52:40 0.975 3,000 Sell Down 10:52:35 0.975 10,000 Sell Down 10:52:28 0.975 10,000 Sell Down 10:52:27 0.975 10,000 Sell Down 10:52:19 0.975 20,000 Sell Down 10:52:18 0.975 5,000 Sell Down 10:52:09 0.975 10,000 Sell Down 10:52:03 0.975 15,000 Sell Down 10:51:47 0.975 20,000 Sell Down 10:51:36 0.975 10,000 Sell Down 10:51:25 0.975 25,000 Sell Down 10:51:02 0.975 2,000 Sell Down 10:50:59 0.975 18,000 Sell Down 10:50:55 0.975 12,000 Buy Up 10:50:53 0.975 38,000 Sell Down 10:50:51 0.975 30,000 Sell Down 10:50:49 0.975 35,000 Sell Down 10:50:48 0.975 27,000 Sell Down 10:50:47 0.975 6,000 Sell Down 10:50:44 0.975 4,000 Sell Down 10:50:43 0.975 20,000 Sell Down 10:50:40 0.975 50,000 Sell Down 10:50:39 0.975 100,000 Sell Down 10:50:29 0.975 10,000 Sell Down 10:50:25 0.975 5,000 Sell Down 10:50:11 0.975 10,000 Sell Down 10:49:40 0.975 1,000 Sell Down 10:49:39 0.975 20,000 Sell Down 10:49:33 0.975 10,000 Sell Down 10:49:24 0.975 12,000 Sell Down 10:49:23 0.975 15,000 Sell Down 10:49:20 0.975 10,000 Sell Down 10:49:09 0.975 10,000 Sell Down 10:49:04 0.975 10,000 Sell Down 10:48:55 0.975 15,000 Sell Down 10:48:52 0.975 10,000 Sell Down 10:48:51 0.975 20,000 Sell Down 10:48:50 0.975 5,000 Sell Down 10:48:39 0.975 1,000 Sell Down 10:48:37 0.975 10,000 Sell Down 10:48:35 0.975 100,000 Sell Down 10:48:16 0.975 60,000 Sell Down 10:48:02 0.975 60,000 Sell Down 10:47:37 0.975 20,000 Sell Down 10:46:55 0.975 30,000 Sell Down

 

99 touching a dollar soon !!!

tonylim      ( Date: 14-Sep-2010 11:50) Posted: 11:48:32 0.985 1,000 Buy Up 11:48:26 0.980 10,000 Sell Down 11:48:03 0.980 4,000 Sell Down 11:47:59 0.985 20,000 Buy Up 11:47:54 0.985 10,000 Buy Up 11:47:12 0.985 50,000 Buy Up 11:46:52 0.985 150,000 X 11:46:40 0.985 1,000 Buy Up 11:46:28 0.980 300,000 Sell Down 11:46:08 0.980 10,000 Sell Down 11:46:05 0.985 20,000 Buy Up 11:45:53 0.985 50,000 Buy Up 11:44:51 0.985 10,000 Buy Up 11:44:03 0.985 10,000 Buy Up 11:42:26 0.980 1,000 Sell Down 11:41:58 0.980 5,000 Sell Down 11:41:39 0.980 2,045,000 Buy Up 11:38:30 0.975 10,000 Sell Down 11:38:15 0.980 10,000 Buy Up 11:38:03 0.980 58,000 Buy Up 11:35:53 0.980 10,000 Buy Up 11:35:00 0.980 40,000 Buy Up 11:33:58 0.980 10,000 Buy Up 11:31:56 0.980 6,000 Buy Up 11:28:53 0.975 10,000 Sell Down 11:27:24 0.975 10,000 Sell Down 11:27:01 0.975 14,000 Sell Down 11:26:52 0.975 5,000 Sell Down 11:25:12 0.975 10,000 Sell Down 11:24:12 0.975 5,000 Sell Down 11:23:14 0.975 10,000 Sell Down 11:20:54 0.975 10,000 Sell Down 11:20:16 0.975 40,000 Sell Down 11:19:56 0.975 10,000 Sell Down 11:19:27 0.975 312,000 Buy Up 11:18:39 0.975 3,000 Buy Up 11:18:22 0.975 57,000 Buy Up 11:18:10 0.975 10,000 Buy Up 11:17:38 0.975 2,000 Buy Up 11:16:55 0.975 50,000 Buy Up 11:16:27 0.975 100,000 Buy Up 11:15:33 0.975 30,000 Buy Up 11:14:53 0.975 100,000 Buy Up 11:11:29 0.975 12,000 Buy Up 11:09:33 0.975 60,000 Buy Up 11:08:17 0.975 7,000 Buy Up 11:07:22 0.975 58,000 Buy Up 10:59:56 0.975 5,000 Buy Up 10:59:54 0.975 30,000 Buy Up 10:59:11 0.975 20,000 Buy Up 10:58:57 0.975 23,000 Buy Up 10:57:53 0.975 10,000 Buy Up 10:53:56 0.975 1,000 Buy Up 10:53:24 0.975 20,000 Buy Up 10:53:05 0.975 1,000 Buy Up 10:52:40 0.975 3,000 Sell Down 10:52:35 0.975 10,000 Sell Down 10:52:28 0.975 10,000 Sell Down 10:52:27 0.975 10,000 Sell Down 10:52:19 0.975 20,000 Sell Down 10:52:18 0.975 5,000 Sell Down 10:52:09 0.975 10,000 Sell Down 10:52:03 0.975 15,000 Sell Down 10:51:47 0.975 20,000 Sell Down 10:51:36 0.975 10,000 Sell Down 10:51:25 0.975 25,000 Sell Down 10:51:02 0.975 2,000 Sell Down 10:50:59 0.975 18,000 Sell Down 10:50:55 0.975 12,000 Buy Up 10:50:53 0.975 38,000 Sell Down 10:50:51 0.975 30,000 Sell Down 10:50:49 0.975 35,000 Sell Down 10:50:48 0.975 27,000 Sell Down 10:50:47 0.975 6,000 Sell Down 10:50:44 0.975 4,000 Sell Down 10:50:43 0.975 20,000 Sell Down 10:50:40 0.975 50,000 Sell Down 10:50:39 0.975 100,000 Sell Down 10:50:29 0.975 10,000 Sell Down 10:50:25 0.975 5,000 Sell Down 10:50:11 0.975 10,000 Sell Down 10:49:40 0.975 1,000 Sell Down 10:49:39 0.975 20,000 Sell Down 10:49:33 0.975 10,000 Sell Down 10:49:24 0.975 12,000 Sell Down 10:49:23 0.975 15,000 Sell Down 10:49:20 0.975 10,000 Sell Down 10:49:09 0.975 10,000 Sell Down 10:49:04 0.975 10,000 Sell Down 10:48:55 0.975 15,000 Sell Down 10:48:52 0.975 10,000 Sell Down 10:48:51 0.975 20,000 Sell Down 10:48:50 0.975 5,000 Sell Down 10:48:39 0.975 1,000 Sell Down 10:48:37 0.975 10,000 Sell Down 10:48:35 0.975 100,000 Sell Down 10:48:16 0.975 60,000 Sell Down 10:48:02 0.975 60,000 Sell Down 10:47:37 0.975 20,000 Sell Down 10:46:55 0.975 30,000 Sell Down tonylim      ( Date: 14-Sep-2010 11:47) Posted: Huge buy up : http://www3.poems.com.sg/liveprice/lvslingshot2e/menumodules/timesales/timesales.asp?stcode=5EN

 

tonylim      ( Date: 14-Sep-2010 11:47) Posted: Huge buy up : http://www3.poems.com.sg/liveprice/lvslingshot2e/menumodules/timesales/timesales.asp?stcode=5EN tonylim      ( Date: 14-Sep-2010 11:46) Posted: The day of reckoning !

 

Huge buy up : http://www3.poems.com.sg/liveprice/lvslingshot2e/menumodules/timesales/timesales.asp?stcode=5EN

tonylim      ( Date: 14-Sep-2010 11:46) Posted: The day of reckoning ! Tanisha      ( Date: 14-Sep-2010 09:35) Posted: looks like its heading all the way towards North :)

 

The day of reckoning !

Tanisha      ( Date: 14-Sep-2010 09:35) Posted: looks like its heading all the way towards North :)

 

looks like its heading all the way towards North :)