A lot of crazy plays and tradingd on this stock, some fellas just gradually buying 1 lot by 1 lot to edge up the price to S$0.34. Seems like share price is stabilizing around S$0.335 to $0.34 level. As for what price to enter, Gaoxian IPO in SGX was $0.28 and if the company were to continue to deliver the profits, this stock should worth more than $0.30 cts at least!!!
Why are there so much shorting in China Gaoxian in Korea ? Were the Korean mis-informed on its PE. The Korean Exchange website showed an astonishing 81.75x PE !! Daewoo Securities needs to be told off for not during a good job! Their reputation is at stake for a poor 1st day listing ! How about China Gaoxian management, ain't they concern ? They are not statisfied with Singapore low PE, hence goes all the way to Korea for dual listing, where they were told of high PE . Now it seems they are being fooled !
eng.krx.co.kr/por_eng/m2/m2_1/m2_1_1/JHP...1.jsp?isu_cd=A950070
Share the same feeling especially these big Korea institutions have supported the launching price at S$0.405.... But get caught in this counter twice. First time in SGX IPO caught and trapped for almost one year and this time at this terrible failed dual listing in Korea. Cut lost and bled...
Hanwha Securities Co., Ltd offload about 18 million shares on 25/1/2011. Still holding 4.51% I wonder when and what price they get their shares? That explain why the price plunged on the first day of trading. Large Selling Order.... probably they have accumulated the long term from 20cents level or else they will be losing money if it is from the IPO. Anyone have any clue? I am totally out of Gaoxian now.... no more position.
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