yesterday insider know the news 1 hour before closing up already just now all are selling. insider trading already happened to many counters,yet bursa butakah?
Assume the bonus share fixed @ 3.00. After bonus the share worth 1.50 - 1.60. Upward limited if closing price for today below 3.16. If warrant worth 29 sen as optimus9199 prediction. Continue to buy is hard cos bonus shares don't entitle for warrant.
apolloang, bursa don't care the small money insider trading, unless insider trading is 10 million or 100 million, then they will take action. Here is not US America.
Eventually the works will be sub con to Econpile too becoz AZRB does not have the speciality to do undertake the project and AZRB and Econpile are good friends
Econpile proposed to undertake a 1-into-2 share split. Pursuant to this, it also proposed to undertake a 1-for-4 bonus share issue and a 1-for-4 bonus warrant issue. These exercises, which will be implemented concurrently, are expected to be completed by 2H of 2017.
Based on yesterday’s closing price of MYR3.00, the ex-all price is MYR1.20. Meanwhile, the 5-year warrants, which has an indicative exercise price of MYR1.19 (subject to further price-fixing), is worth MYR0.28, based on the ex-all price of MYR1.20/sh.
The whole exercise aims at improving the trading liquidity of Econpile shares and to reward its shareholders. For the group, assuming full exercise of the warrants at the indicative exercise price of MYR1.19, it could potentially raise up to MYR318.3m for working capital. Having said so, its share base would expand by up to 3x upon completion of these exercises.
Econpile is set to ride on the robust construction outlook. Its order book stood at MYR1.2b which is equivalent to 2.1x FY6/17 revenue, underpinned by some of its on-going projects like 1) MYR48.5m piling works at Jalan Conlay Kuala Lumpur; 2) MYR92.5m sub-contract work for the KVMRT2 project; and 3) MYR570.4m foundation and basement structure works for Pavilion Damansara Heights, among others.
The group is also tendering for about MYR2b worth of jobs, consisting mainly large-scale mixed developments and infrastructure projects in railway and roadway such as LRT3 and KVMRT2. Although the group is currently running at tight capacity, some of the projects are nearing completion, and this will free up some capacity to undertake more projects.
The street is forecasting a 16.5% 2-year EPS CAGR for FY6/17-19. Brokers are positively biased on the stock with two Buys and two Holds, with a mean target price of MYR2.95. Although the TP is below the last traded price, the free warrant which is worth MYR0.28 apiece could help to re-rate share price.
Nevertheless, valuation is on the high side, with the stock trading at 16.2x consensus FY6/18 EPS of 18.5sen, higher than its 3-year historical average PER of 13.5x.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
optimus9199
2,794 posts
Posted by optimus9199 > 2017-09-05 21:56 | Report Abuse
Someone crazy sold down the price at last minit