HDFC Bank increases Home Loan Rates by 50 basis points (0.5%)

The HDFC bank yesterday announced a rate hike for its home loan borrowers by 50 basis points or 0.5%. This news came in just before ICICI bank hiked its deposit and home loan rates by 75 basis points.

However, the HDFC bank has been a bit of kind to its existing home loan borrowers. The existing house loan borrowers will have to pay a hike of 50 basis points or 0.5% as against 75 basis points for the new borrowers of HDFC bank home loan. That means, if anyone is taking a home loan or a house loan after July 1, 2008, then his new interest will be dearer by 75 basis points. While for the existing HDFC home loan borrowers, the hike will be only 50 basis points.

The HDFC bank has justified the hike citing reasons of inflation, RBI CRR hike, and claimed that they have increased the deposit rated to the same extent. But ultimately, it will be the customers or home loan borrowers who will be required to pay higher interest rates.

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ICICI increases Home Loan Rates by 0.75% or 75 basis points

The interest rate bug has bitten many home loan borrowers. ICICI has added fuel to fire by hiking the home loan interest rates to a much larger extent – to 0.75% or 75 basis points.

As per the latest developments, the ICICI bank has increased the home loan for both fixed and floating home loan consumers by a whopping 0.75% or 75 basis points. The floating reference rate will now be 13.5% as against 12.75% earlier.

Being the front runner in the home loan or house loan markets in India, this comes as a cruel surprise for many of the ICICI bank home loan borrowers. Though other banks have hiked the interest rates from 0.25 to 0.50 percent or 25 to 50 basis points, the hike from ICICI is the largest at 75 basis points.

The ICICI bank officials are trying to justify the hike by mentioning that they have hiked the deposit rate to the same extent, inflation is a concern, RBI has hike CRR and so on, but it is the retail home loan borrowers who will suffer the most. The EMI increase of a typical home loan of 15 lakhs would be around 700 Rupees per month – that will cost significantly on the consumer’s pocket.
The bank also claims that they are giving certain options to home loan borrowers to marginalize the pressure of increased EMI -

Some of these being that we will give the customers an extended tenure and to certain customers we will give them certain payment options by which they can pay us over a period of time in order to reduce their interest burden. But ultimately, it will be the consumer who will be hit dearly.

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Germany1 Acquisition IPO: Germany1 IPO

A new IPO is set to hit the German Stock markets. The IPO or initial public offering belongs to Germany1 Acquisition Limited.

What is the size of Germany1 Acquisition IPO?
The Germany1 Acquisition IPO is expected to raise around 275 million Euros through its initial public offering.

Where will the capital or fund raised from Germany1 Acquisition IPO be used?
The Germany1 Acquisition IPO will used the proceeds to fund the acquisition of companies in Germany, Switzerland and Austria.

How many shares will be offered for sale through the Germany1 Acquisition IPO?
A total of 27.5 million units will be offered for sale through the Germany1 Acquisition IPO. each unit consisting of one share in the buyout firm and one option that entitles the owner to buy an additional share for 7.50 euros.

What is the price of each share unit of Germany1 Acquisition IPO?
Each share unit of the Germany1 Acquisition IPO will be offered for sale at 10 Euros each.

Where will the units and shares of Germany1 Acquisition IPO be listed?
The units, as well as the shares and options they comprise, will be listed on the Euronext Amsterdam exchange.

What are the business valuations of the Germany1 Acquisition IPO?
The company, a so-called special purpose acquisition company (SPAC), said in a statement that it aims to buy one or two companies for between around 300 million euros and 1 billion Euros.

Deutsche Bank AG will manage the IPO.

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Prime Petroservice IPO

A new IPO is set to hit the Indonesian Stock markets in August 2008. The IPO or initial public offering belongs to Indonesian oil and gas service company PT Prime Petroservice Tbk.

How many shares will be offered for sale through the Prime Petroservice IPO?
A total of 1.78 billion shares will be offered for sale through the Prime Petroservice IPO, Indonesia.

When are the opening dates for Prime Petroservice IPO?
The Prime Petroservice IPO is expected to come to the markets on Date August 19 to 21, 2008.

What is the price of Prime Petroservice IPO shares?
The price of Prime Petroservice IPO shares or the offer price of Prime Petroservice IPO shares has not been determined as of yet. But the same will be available very soon.

When will the Prime Petroservice IPO shares be listed on the Indonesian Stock Exchange?
The listing date of Prime Petroservice IPO shares is August 26,, 2008.

What are the offerings in this IPO, other than shares?
The company will also issue 1.43 billion warrants that will be attached to the IPO shares. For every five shares, holders will get four warrants. Holders of each warrant has the right to buy one new share to be issued by the company within three years

Where will the fund raised will be used by Prime Petroservice IPO?
Prime Petroservice said it will use 90 percent of the IPO proceeds to finance investments, including building oil and gas production facilities, purchasing rig and drilling equipment as well as constructing liquid natural gas facilities.

What are the business valuations and financial results of Prime Petroservice IPO?
The company posted sales of 168.4 billion rupiah in 2007 against 83.71 billion rupiah a year earlier, while net profit increased to 32.28 billion rupiah from 8.19 billion rupiah.
In the first quarter, the company posted net profit of 9.54 billion rupiah on sales of 65.64 billion rupiah.
Key shareholders of Prime Petroservice include PT Eclipse Pacific Service which owns 79 percent and PT Barata Makmur Abadi with 9.8 percent.

PT Recapital Securities, affiliate PT Madani Securities and PT Ciptadana Securities will be the underwriters of the Prime Petroservice IPO.

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Sealink IPO Malaysia

A new IPO or initial public offering is set to hit the Malaysian Capital markets. The IPO belongs to Shipowner and operator Sealink International Bhd.

What is the expected size of the Sealink IPO Malaysia?
The Sealink IPO Malaysia is expected to raise around RM 141.71 million from its Initial public offerings.

How many shares will be sold through the Sealink IPO Malaysia?
As per the Sealink company statement, the listing exercise involved 128.37 million shares at RM1.25 each, comprising a public issue of 113.37 million new shares and offer for sale of 15 million shares.

Since this is a exercise option, how will the shares be allotted for Sealink IPO Malaysia?
Of the new 113.37 million shares, it would offer 28.37 million shares to the Malaysian public, 44.5 million for private placement, about 20.5 million for bumiputra investors and 20 million for eligible directors, employees and business associates.

What are the business valuations of Sealink IPO Malaysia?
Sealink is an integrated service provider in the Malaysian offshore oil and gas industry.
The company planned to expand its fleet of 29 vessels to 40 vessels in the next three years. The capital raised from Sealink IPO Malaysia will be used to funds to expand its shipyard and fleet.
The company would also ride on the buoyant upstream oil and gas industry industry and it was looking to include deep-water support services catering especially to the deep-water exploration and production activities of oil and gas industry
Sealink planned to invest between RM50mil and RM100mil over the next three years to upgrade the capabilities of the shipyards

What are the assets of Sealink Company Malaysia?
Sealink has two shipyards in Miri to cater to its shipbuilding activities. For the financial year ended Dec 31, 2007, shipbuilding contributed about 73% of revenue or RM118mil and 57% of gross profit or RM34mil.
Its vessels chartering business contributed about 27% or RM44mil to group revenue. Its fleet of 29 vessels consists of landing craft, multi-purpose vessels, tugboats, barge, supply vessel, utility vessel and passenger vessel.
Sealink’s customers include both local and international companies from the United State of America, Australia, China, India, Latin America, Europe, East Africa, Southeast Asia and the Middle East. Sealink’s export market contributed 80% or RM131 million to last financial year’s revenue.

What are the financial results of Sealink IPO Malaysia? For financial year ended Dec 31, 2007, it posted revenue of RM162.7mil and RM58.9mil of gross profit.

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Kedrion IPO Italy

A new IPO or initial public offering is set to hit the Italian Stock Markets. The IPO belongs to Italy's blood plasma company Kedrion SpA.


What is the price range or price band of Kedrion IPO Italy?
The price range for Kedrion IPO shares has been set from 9.5 Euros to 12 Euros per share.

What is the market capitalization of the Kedrion Company?
Based upon the price range mentioned above, Kedrion will seek a 703 million Euros market cap at the upper end of the price range.

What is the expected size of the Kedrion IPO from Italy?
The Kedrion IPO is expected to raise around 2127 million Euros, if Kedrion IPO shares are priced at the upper price band.

How many shares will be offered for sale through the Kedrion IPO?
Kedrion IPO will offer up to 18.655 million shares, of which 6.5 million will be new shares and that it will offer up to 1.86 million shares in a greenshoe option.

What is the business of Kedrion Spa Company Italy?
Kedrion is a biopharmaceutical company specialized in the development, production and distribution of plasma-derived products.
Born in 2001 of the rationalisation and upgrading of other companies that had been working in this industry, Kedrion acquired a heritage of expertise that secures it a prominent role in Italy, in Europe and in the world.

Kedrion stands out for its great attention to the international horizon and for the promotion of the local community. In Italy, Kedrion is a partner of the National Health Service for the production of plasma-derived medicinal products.
In addition, its expertise serves other strategic partnerships with health institutions in other countries. The company’s competitive edge relies on the quality of its products, its relentless commitment to research and development, its substantial industrial capacity, as well as its established position on the domestic and international markets

What are the opening dates, subscription dates and trading dates for Kedrion IPO?

The Kedrion IPO will remain open from July 2 to July 10, 2008 and the final price will be set on July 12, 2008. The Kedrion IPO shares will start trading on July 16, 2008.

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Alok Industries Retail H&A IPO: Alok Retail Home & Apparel IPO

The famous textile company, Alok Industries is already listed on the Indian stock exchanges. Now it is planning to come out with another IPO for listing its Retail Business shares on the Indian stock exchanges.

What is the expected size of the Alok Industries H&A Retail IPO?
The Alok H&A Retail IPO or initial public offering is expected to raise around 500 to 600 Crore Rupees through its IPO.

What are the valuations of Alok Industries Retail H&A IPO
Alok Industries itself is valued at Rs 2,160-crore for its textile business.
Alok group entered the $15-billion organised retail sector in the country in 2006, operates 23 retail stores called ‘H&A’, short for Home & Apparel, in Mumbai, Bangalore, Vapi, Hyderabad, Ahmedabad, Silvassa and others.
The plan is to setup another 100 new stores which will require an investment of Rs 40 lakh per store. So the total investment marked is Rs 40 crore.

Where will Alok Retail H&A IPO get this money from?
The expansion would be funded through a mix of internal accruals and debt. By 2010-11, the company hopes to take the number of stores to 400. The retail business presently contributes 1% to the company’s turnover.
In April, Alok’s board had approved the spin-off of the H&A business into a separate subsidiary called Alok Homes & Apparels.

Is it wise to come out with an IPO for retail sector?
There is a cut throat competition in the retail sector with big players already fighting for a slice of cake. The retail division of Alok H&A, however, is not doing too well. An H&A store in Pune shut down recently and a few in Mumbai too may shut shop soon, as per the news and analysis.

What are the opening dates and listing dates of Alok Industries Retail H&A IPO?
No information is available at present about the listing date.

There is no data available about the price range or number of shares to be offered for sale.

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Mirae Asset Global Commodity Stock Fund MAGCSF

There is a new fund which is currently open for subscription during the NFO period. The fund belongs to Mirae Asset Global Investments and is called the Mirae Asset Global Commodity Stock Fund.

What is so special about the Mirae Asset Global Commodity Stock Fund (MAGCSF)?
This fund from Mirae claims to be the first fund in India which is focusing on the commodities. The reason they quote is that price of commodities are rising globally and hence this Mirae Asset Global Commodity Stock Fund (MAGCSF) which is focusing on commodities will give excellent returns to the investors.

How will the Mirae Asset Global Commodity Stock Fund (MAGCSF) invest the money of investors?
The MAGCSF will primarily invest in commodity/commodities related stocks in Asia Pacific markets and emerging markets thus ensuring that it is able to tap into opportunities available across countries thereby seeking to generate superior returns on your investments. They are also targeting to achieve diversification at geographical level: Australia, Brazil, Hong Kong, Indonesia, Malaysia, Philippines, Singapore and Thailand. Geographical & Sectoral diversification allows the fund to leverage on commodity plays available in many countries for e.g. Agriculture in Brazil, Metals in Australia, Energy in China etc and thereby reduce risks.

Which sectors will be targeted by Mirae Asset Global Commodity Stock Fund (MAGCSF) for investments?
The Mirae Asset Global Commodity Stock Fund (MAGCSF) will target 3 commodities:
1) Agriculture: products including corn, wheat, rice, soybean
2) Metals: steel, aluminium, iron ore along with precious metals like Gold, Silver
3) Energy: oil, natural gas, coal, wind energy etc stocks
What is the risk of investments in Mirae Asset Global Commodity Stock Fund (MAGCSF)?
Apart from others, the main risk is forex risk as they are looking for global diversification. There is also market (country)specific risk, which is directly affected by political situation as well. Having such a wide level of diversification will also mean paying high transaction costs.

Related: ING Latin America Equity Fund NFO Review

What is the minimum and maximum investment available in Mirae Asset Global Commodity Stock Fund (MAGCSF)?
Rs. 5000 is the minimum investment and in multiples of Re. 1 afterwards.
During NFO fund unit will be available at the rate of Rs. 10 per unit plus applicable load.

Any SIP or Systematic Investment Plan available within Mirae Asset Global Commodity Stock Fund (MAGCSF)?
- Systematic Investment Plan (SIP): Rs. 1000/- (multiples of Re.1/ - thereafter), minimum 6 installments or Rs 1500/- minimum 4 installments

Which benchmark index will be tracked by Mirae Asset Global Commodity Stock Fund (MAGCSF)?
A mix of some indices in the following proportions: MSCI Asia Pacific ex Japan and India Energy and Materials Index (55%) + MSCI Brazil Energy and Materials Index (10%) + BSE 200 (35%)

What are the opening dates for Mirae Asset Global Commodity Stock Fund (MAGCSF)?
NFO or New Fund offer closes on 23rd July, 2008.

What investment options are available through Mirae Asset Global Commodity Stock Fund (MAGCSF)?
- Growth Option
- Dividend Option

What are the entry load and exit loads for Mirae Asset Global Commodity Stock Fund (MAGCSF)?
Entry Load: Regular Plan (a) < Rs. 5 Crores: 2.25%, > Rs. 5 Crores : NIL (b) Systematic Investment Plan/ Systematic Transfer Plan : 2.25% (c) By Fund of Funds (regardless of amount) :NIL (d) By Switch-In from the other equity schemes of the Fund : NIL (e) By Switch-In from the schemes other than equity schemes : same as the case in (a) above.

Exit Load: Regular Plan: (i) (a) < Rs.5 Crores : a. Redemption up to 6 months (180 days) from the date of allotment : 1.00%, (b) Redemption on or after 6 months and up to 12 months (365 days) from the date of allotment : 0.50%, (ii) > Rs. 5 Crores : NIL. iii). For Systematic Investment Plan/ Systematic Transfer Plan/Systematic Withdrawal Plan: If redeemed within 12 months (365 days) from the date of allotment: 1.00%.

More information about the Mirae Asset Global Commodity Stock Fund (MAGCSF)and investments: Email: customercare@miraeassetmf.co.in Tel: - 91-022-67800301

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SRS IPO India

There is a new IPO planned for the Indian Equity markets. The IPO or initial public offering belongs to the real estate company, SRS Group, which are primarily focused on real estate business in the north India.

What is the size of the SRS IPO?
The SRS IPO is expected to raise around 500 million Rupees through its initial public offering.

Where will the IPO proceeds be used by the capital raised from SRS IPO?
The expansion plan is for a total of 1000 Crore Rs. Of this, Rs 500 crore would be invested in the expansion of the retail business, Rs 350 crore in multiplex cinemas, and the balance would be invested in the food & beverage business over the next three years.

How will SRS IPO raise remaining 500 Crore Rs.?
Apart from the 500 Crore Rs. raised from the SRS IPO, the remaining 300 Cr will raised as debt and rest will be from internal accruals.

What are the opening dates of the SRS IPO?
No information is available about the opening dates, subscription dates or listing date of the SRS IPO shares, but the IPO is expected to come by the end of this fiscal.

What is the price band or price range of SRS IPO shares?
No information is available at the time of writing this article about the price of SRS IPO shares.

What are the business plans and valuations of SRS IPO?
SRS officials say that they plans to increase the number of its organised retail outlets to 100 by the end of the current fiscal, with the total area under retail operation expected to be around 15,000 sq ft by 2009.

It plans to open 16 Value Bazaars every month and has signed lease agreements for over 50 locations with developers like Omaxe, Chadha Group.

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Alliances Developpement Immobilier IPO Morocco

A new IPO or initial public offering is on its way to enter the Moroccan capital markets. The IPO belongs to Moroccan property company Alliances Developpement Immobilier.

What is the expected size of the Alliances Developpement Immobilier IPO Morocco?
The Alliances Developpement Immobilier IPO expects to raise around 2 billion Dirhams from the IPO.

Where will the shares of Alliances Developpement Immobilier IPO be listed?
The shares of Alliances Developpement Immobilier IPO Morocco will be listed on the Casablanca Stock Exchange.

When will the Alliances Developpement Immobilier IPO open for subscription?
The Alliances Developpement Immobilier IPO will open for subscription on date July 2 to July 7. If the demand for the IPO is huge, then it may close early, on July 3, 2008.

How many shares will be sold through the Alliances Developpement Immobilier IPO?
A total of 2.915 million shares will be offered for sale through the Alliances Developpement Immobilier IPO from Morocco.

What is the price per share of Alliances Developpement Immobilier IPO Morocco?
Each share of Alliances Developpement Immobilier IPO will be offered for sale at the price of 685 dirham each.

What are the price to earnings PE ratio of Alliances Developpement Immobilier IPO Morocco?
Using DCF analysis, the PE ratio or price to earnings ratio of Alliances Developpement Immobilier IPO Morocco comes to around 41 times the estimated earnings of 2008.

What is the primary business and valuation of Alliances Developpement Immobilier IPO Morocco?
Alliances specialises in studying, building and selling housing and tourism developments, often in partnership with major operators including Accor, Four Seasons Hotels, Club Med and TUI.

The IPO is lead managed by Attijariwafabank.

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Ellora Energy IPO: Ellora IPO

A new IPO will enter the NASDAQ Exchange. The IPO or initial public offering belongs to Oil and gas company Ellora Energy Incorporated.

What is the price range of Ellora Energy IPO?
The Ellora Energy IPO shares are expected to be priced in the price range of $17 to $19 per share. The initial (previous) price band for Ellora Energy IPO shares was set to $12 to $14 per share.

How many shares will be sold through the Ellora Energy IPO?
A total of 11.4 million shares will be sold through the Ellora Energy IPO. This includes the company shares of 8 million shares and a group of stockholders are offering the remaining 3.4 million shares.
Ellora gave the underwriters the option to buy up to an additional 1.7 million shares at the offering price to cover overallotments.

What is the expected size of the Ellora Energy IPO?
Going by the price of approximately $18 per share – the Ellora Energy IPO size would be around $132 million after fees and expenses.

Where will the capital raised by the Ellora Energy IPO be used?
The company plans to use the proceeds to repay debt. Any remaining proceeds will be used to fund capital expenditures and for other general corporate purposes.

What are the business valuations & financial results of Ellora Energy IPO?
Ellora operates in east Texas, western Louisiana and southwest Kansas. For the first three months of 2008, average net production was about 31 million cubic feet equivalent per day. As of March 31, the company's estimated total proved oil and gas reserves were about 229 billion cubic feet of equivalent.
First-quarter earnings totaled $1.1 million on revenue of $28.5 million.

Merrill Lynch; Raymond James & Associates; KeyBanc Capital Markets; Tudor, Pickering, Holt & Co. Securities; Howard Weil; Tristone Capital; and Thomas Weisel Partners are underwriting the IPO.

Ellora's shares will be listed on the Nasdaq Global Market under the symbol "LORA".

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VRL Logistics IPO India

A new IPO is expected to hit the Indian capital markets very soon. The IPO or initial public offering belongs to VRL Logistics Limited.

What is the expected size of the VRL logistics IPO?
The company aims to raise around Rs 200 crore through its proposed IPO or initial public offering.

How many shares will be offered for sale through the VRL logistics IPO?
A total of 27 million shares will be offered.

What are the competition aspects for VRL logistics IPO?

The competition is intensifying from several large and small players in the transportation business, which exerts pressure on margins. The high debt levels are likely to adversely impact net profit margins.
The company ventured into businesses in the past which led to tight cash flow situations, leading to delayed payments. Further, the corporate governance structure of the company is inadequate.

What are the business valuations of the VRL Logistics IPO?
VRL has a well established network across the country, with a fleet size of more than 2,500 vehicles and over 2,100 offices. VRL is primarily engaged in the goods transportation and logistics services business; the company also operates a fleet of buses for passenger transport. The company recently ventured into the wind power generation and air charter businesses. VRL, which commenced operations as a proprietary concern in 1976, has a well-established network across the country, comprising 799 owned branches and 1,387 exclusive franchisee offices, and a fleet of 2,486 trucks and 197 buses. In addition, it also has 43 transshipment hubs, which facilitate the hub and spoke business model.

What are the financial Results of VRL Logistics IPO?
In 2006-07, the company reported a net profit of Rs 85.20 crore on a turnover of Rs 441.62 crore. The return on capital employed and return on equity was 39.2 per cent and 141.6 per cent, respectively. Included in VRL’s 2006-07 net profit is a one-time gain of Rs 116.5 crore on account of the stake sale of its media subsidiary.

Any ratings assigned to VRL logistics IPO?
Yes. CRISIL has assigned IPO Grade “2/5” to the proposed initial public offer of VRL Logistics Ltd.

This grade indicates that the fundamentals of the issue are below average to other listed equity securities.

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Sinomedia Advertising IPO Hong Kong

A new IPO or initial public offering is set to hit the Hong Kong Capital Markets. The IPO or initial public offering belongs to the Sinomedia Advertising company of China.

What is the size of the Sinomedia IPO?
The Sinomedia IPO is expected to raise around USD 62 million through its IPO or initial public offering.

How many shares will be sold through the Sinomedia IPO?
A total of 139 million shares of Sinomedia Company will be sold through the Sinomedia IPO.

What is the price range or price band of Sinomedia IPO?
The price range for the Sinomedia IPO is set from HK$2.63 to HK$3.48 per share.

What are the opening dates of the Sinomedia IPO?
The marketing roadshow will run from June 24 to July 1, and the Hong Kong IPO will be from June 25 to 30. The shares will be listed and begin trading on July 8, 2008.

Morgan Stanley and Cazenove are the joint book runners for the deal.

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Birla Cotsyn IPO

A new IPO or initial public offering is set to hit the Indian markets very soon. The IPO belongs to Yash Birla group’s textile manufacturing company Birla Cotsyn.

What is the size of the Birla Cotsyn IPO?
The Birla Cotsyn IPO is expected to raise around 144 Crore Rupees from the Indian capital markets through its proposed IPO.

What are the opening dates or When will the Birla Cotsyn IPO open for subscription?
The Birla Cotsyn IPO will open for subscription between June 30, 2008 and July 4th, 2008.

What is the price band of Birla Cotsyn IPO shares?
The Birla Cotsyn IPO shares will be offered in the price band of Rs. 15 to Rs 18 per share with a standard face value of Rs. 10 per share.

Where will the fund raised or IPO proceeds be used by Birla Cotsyn IPO?
The proceeds from the issue would be utilised to set up the integrated textile unit and a garment manufacturing plant at their facilities located at Khamgaon, Ghatanji and Malkapur in Maharashtra at an estimated cost of Rs 320 crore.

This project had been appraised by SBI Capital Markets. Company officials said that the proceeds would also fund the company’s plan to set up retail outlets across the country.

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SJM IPO Sociedade de Jogos de Macau IPO

Sociedade de Jogos de Macau (SJM), which is known to be the largest casino operator in Macau is set to come out with an IPO or initial public offering.

What is the size of the Sociedade de Jogos de Macau SJM IPO?
The is expected to raise money in the range of HK$3.85 billion and HK$5.1 billion ($494 million and $654 million) through the initial public offering.

What is the price band or price range of SJM IPO shares?
The share of SJM are priced in the range of HK$3.08 and HK$4.08 per share.

How many shares will be offered for sale through the SJM IPO?
A total of 1.25 billion shares will be offered for sale through the Sociedade de Jogos de Macau SJM IPO.

What are the business valuations of SJM IPO?
SJM runs 19 of Macau's 29 casinos, and is top in terms of market share and gaming revenue. Across its venues it has 305 VIP gaming tables, 1,100 mass market gaming tables and 3,700 slot machines. Its origins can be traced back to Sociedade de Turismo e Diversoes de Macau (STDM), the former monopoly that is controlled by Macau gaming tycoon Stanley Ho and which dominated gaming in the former Portuguese colony before the liberalisation of the industry in 2002.

How about the competition for SJM IPO?
The SJM IPO has competition from American peers, but it comes as a blessing: the opening of large American casinos has helped to vastly increase the gaming revenue in the area. However, it has come at a cost of eating up the market share of SJM and will continue to be a threat to SJM’s business.

What are the future prospects of SJM IPO business?
As part of this plan to expand, it has been building new properties. In February 2007, its new flagship casino, the Grand Lisboa, opened; and this February the casino at Ponte 16 opened its doors for business.

What about other fundamental indicators like PE ratio for SJM IPO?
SJM shares appear to be cheaper on the price to earnings front. SJM's price range values the company at 10.1 to 13.4 times its predicted 2008 earnings, which is much cheaper than its major competitors. US-listed Las Vegas Sands is currently trading at 82 times 2008 estimates, and MGM and Wynn are trading at 22 times and 29 times respectively.

Deutsche Bank is the soul global coordinator and bookrunner for the offering, while BNP Paribas and CLSA are advising on the deal. Pricing is scheduled for July 3 and the trading debut is planned for July 10.

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FWIL IPO Share Price: First Winner IPO Share Price

Following the IPO or initial public offering, the FWIL or First Winner Industries limited has fixed the share price at Rs. 125 per share.
The issue which closed on Jun. 17, 2008, was subscribed 1.26 times (according to the preliminary information received by the stock exchanges). The qualified institutional bidders portion was subscribed to approximately around 1.05 times; the non-institutional bidders portion was subscribed to nearly around 1.84 times; the retail portion was subscribed to approximately around 1.32 times. The IPO has received total bids for 6,920,900 shares.

The issue comprises a net issue of 5.40 million shares and an employee reservation portion of 100,000 shares. The issue constitutes 31.04% of the post-issue capital of the company. The equity shares are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE).

One can read the entire review of the First winner Industries IPO here.

Almondz Global Securities is the sole book running lead manager (BRLM) to the issue.

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ATF Futures Trading: MCX Multi Commodity Exchange

India has a few commodity exchanges and Multi Commodity Exchange is one of the major commodity exchanges of India.

Very recently, the MCX India has decided to allow trading on ATF or Aviation turbine fuel futures trading on its bourses.
It seems that the FMC or Forwards market Commission has given the nod to the MCX Exchange for allowing the much awaited trading on ATF futures. It will be a landmark decision as previously there was no trading available in the Indian capital markets for hedging away the risks in the ATF or fuel sector. Hence, the airline companies in India used to hedge their positions and requirements on overseas commodity exchanges but it use to come at a high brokerage cost and also forex risk.

Now with the onset of ATF Futures being allowed trading on Indian MCX Commodity Exchange, the ailing aviation sector companies can now opt for local hedging that too without any forex risk. Though it is not clear whether the trading will be against the dollar in which the ATF fuel is charged, or will it be in Indian Rupees, but chances are that the trading will be opened in INR.

Joseph Massey, Managing Director of Multi Commodity Exchange said that the exchange has decided to launch a contract for trading in ATF.

The recent spurt in the prices of ATF has made panic in the logistic sector and this move is likely to offer air carriers a domestic platform to hedge against the spiraling fuel prices.

The ATF contracts on MCX Commodity Exchange will be launched in the next week, as per the news.
However, trading in its futures contract may take some time to start, as MCX would launch it only after studying the current environment.

But will the aviation companies jump on to this ATF trading? Unfortunately, these companies have no experience or expert resources to get into hedging contracts. Hiring someone with a good enough experience will mean paying them a hefty salary. Then comes the question of their skills and performance.
Experts in aviation industry believe that futures trading of ATF would help set a benchmark for the fuel's prices, which at present is arrived at after negotiations between airlines and oil marketing companies.

PSU oil firms recently raised ATF prices by over 9 per cent in line with the rise in international crude oil rates. In Mumbai, the price has been hiked by Rs 5,276 per kl to 60,467.58 per kl effective from April 30 midnight. In the past, Air India is said to have burnt its fingers in Hedging contracts on overseas exchanges on ATF futures and other financial instruments. It will be interesting to see how the airline companies will respnd to the introduction of ATF Futures on the MCX Commodity Exchange.

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ING Latin America Equity Fund NFO Review

There is a new Mutual Fund coming to the Indian Mutual Funds Markets. It’s from ING Investment Management and is named as ING Latin America Equity Fund.

What is the ING Latin America Equity Fund all about?
There is nothing new in this fund except for the following:
1. ING Latin America Equity Fund will focus on Latin American companies and their investments.
2. ING Latin America Equity Fund is a fund of fund (what is a fund of funds), not just a plain vanilla stock based mutual fund.
3. Though one of its unique features is that this will be the first mutual fund or fund of funds in India which will focus of Latin American Markets.

Where will ING Latin America Equity Fund invest the money of investors?
The ING Latin America Equity Fund will primarily invest in ING’s existing Luxembourg domiciled fund thereby seeking to provide an Indian investor long-term capital appreciation & exposure to countries which are amongst the fastest growing economies in the emerging market space. The Luxembourg Fund will try to achieve this by investing primarily in stocks of companies based out of Latin American countries or stocks of companies deriving a majority of their revenues from Latin American economies.

Why this ING Latin America Equity Fund has chosed Latin America as a so called “Investment Destination”?
Latin American Countries include Brazil, Argentina, Mexico, Colombia, etc. As per the details in the advertisements, Latin America has experienced a profound transformation over the past few decades. The Latin American economies are becoming increasingly attractive with more stability in its macroeconomic environment and a greater pragmatism in policy & institutional reform. Strong economic growth, reduction in external indebtedness and export dynamism has led to an increased interest in local equity markets from domestic and foreign investors alike.
Thus, Latin America does indeed offer the possibility of discovering opportunities in places you least expect.

What are the risks in ING Latin America Equity Fund?
Now I don’t know how far the above claim is true and will it be able to continue to sustain in the future as well. All these facts are based on past records and it’s the investors who will have to take the risk. Moreover, this is an indirect investment, because it is investing in another foreign fund which will thereby invest in the stocks of the Latin American countries and companies. Forex risk is there, and so is the dependency on the performance of the Luxembourg Fund.

What are the NFO dates opening dates for the ING Latin America Equity Fund?
The ING Latin America Equity Fund will open on date 19th June 2008 and close on date 10th July 2008.

What is the investment pattern for ING Latin America Equity Fund?
Asset Allocation will be done as follows in the ING Latin America Equity Fund: 65%-100% in ING (L) Invest Latin America Fund, 0%-20% in Money Market Instruments including reverse repo and 0%-35% in Other overseas mutual fund schemes.

Load Structure: What are the entry load and exit load for ING Latin America Equity Fund?
Load structure for applications received during NFO and on-going sales:
For investments below Rs.5 Cr - Entry Load : 2.5%, CDSC : 1% if redeemed within 180 days from the date of investments (date of allotment if invested during the NFO).
For investments of Rs.5 cr and above: Entry Load: Nil, CDSC : Nil,
Systematic Investment Plans SIP is available during New Fund Offer periods as well as on going sales.
The load structure for SIP would be same as mentioned above.

Where can I get more information on ING Latin America Equity Fund? Interested investors may call ING investment management toll free number 1800 220042.

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Galiot Capital IPO

A new IPO is coming to the capital markets very soon. The IPO or initial public offering belongs to Galiot Capital Corporation, which is a finance firm.

What is the expected size of the Galiot Capital IPO?
The Galiot Capital IPO expects to raise around 251 million USD from its Initial public offering.

How many shares will be offered for sale through the Galiot Capital IPO?
A total of 16.7 million shares will be offered for sale through the Galiot Capital IPO.

What is the price of each share of Galiot Capital IPO?
The price of each share of Galiot Capital IPO is fixed at USD 15 per share.

On which exchange will the Galiot Capital IPO list its shares?
It will be a New York Stock Exchange listing under the symbol "GTC." for Galiot Capital IPO.

What is the business of Galiot Capital company?
Galiot Capital Corp, is a New York based company and a specialty finance firm that invests in government agency residential mortgage-backed securities,
Galiot will be externally managed and advised by Fischer Francis Trees & Watts Inc, an investment adviser registered with the Securities and Exchange Commission and a wholly-owned unit of Charter Atlantic Corp, an indirect wholly-owned unit of BNP Paribas.

Deutsche Bank Securities, Credit Suisse, Morgan Stanley, Banc of America Securities, BNP Paribas and Keefe, Bruyette & Woods Inc were underwriting the IPO

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Thenergo IPO: Euronext Brussels Paris

Another new IPO or initial public offering is set to hit the European Capital markets very soon. The IPO or initial public offering belongs to Renewable energy company Thenergo NV.

What is the price range or price band of shares of Thenergo IPO?
The shares of Thenergo IPO are priced in the price band of Euro 10.5 to Euro 11.8 per share.

What are the dates during which the Thenergo IPO will open for subscription?
The Thenergo IPO will accept applications between June 20th and July 7th, 2008. The Thenergo IPO also has an option of early closing – June 27 being the earliest.

When will the trading or listing of shares of Thenergo IPO be done?
The listing of Thenergo IPO shares on Euronext Brussels and Paris will take place on July 9, 2008.

What is the business of Thenergo company?
Thenergo is a fast growing, fully integrated and independent developer and operator of sustainable energy projects using biogas, natural gas, bio-oil, woody biomass and secondary fuels.
Thenergo produces heat and electricity from renewable sources with partners from the agricultural sector, industry and local governments. It is based in Antwerp, Belgium.

Thenergo is a pioneer in the biomass clean energy sector. With the fully integrated business model and passion for developing sustainable energy solutions, they claim to be well positioned to help partners to adapt their energy consumption, to reduce costs and to meet the demands of the changing energy market.

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Navios Maritime Holdings IPO: Navios IPO

There is a new IPO set to hit the primary markets of NYSE. The IPO or initial public offering belongs to Greek drybulk shipper Navios Maritime Holdings Incorporated.

How many shares will be sold through the Navios Maritime Holdings IPO?
A total of 22 million units will be sold through the Navios Maritime IPO. Each unit consists of one share of common stock and one warrant that entitles the holder to purchase one share of common stock for $7.

What is the price per share of Navios Maritime Holdings IPO?
The shares of Navios Maritime Holdings IPO are priced at $10 per share.

Any special terms for the Navios Maritime Holdings IPO?
The net proceeds of the offering will be held in trust pending the completion of an acquisition. If a deal is not completed within 24 months, the proceeds will be liquidated and distributed to shareholders.

Upon IPO close, Navios Holdings has agreed to invest $7.6 million in a private placement of warrants. Navios Holdings expects to own about 19 percent of Navios Acquisition's common shares after the IPO.

What are the business valuations and market outlook for Navios Maritime Holdings IPO?
Navios is one of the leading global brands in seaborne shipping, specializing in the worldwide carriage, trading, storage and related logistics of international bulk cargoes. For over 50 years, raw materials producers, agricultural traders and exporters, industrial end users, ship owners, charterers, ship and derivative brokers, agents, and financial business partners have relied on Navios' expertise and innovation.
As a carrier, Navios operates principally handymax and panamax bulk carriers, deploying owned, chartered and leased vessels. Navios has extensive experience performing complex freight movements and bulk cargo logistics around the world, and in providing innovative solutions for customers' special requirements. In addition, the company owns and operates the largest bulk terminal in Uruguay -- one of the most successful and prominent operations of its kind in South America. Navios' worldwide technical ship management capacity is based on a team of industry professionals graduated from the world's leading international schools of naval architecture and marine engineering.
Navios is a leader and innovator in seaborne risk management and shipping advisory services, and a strong financial partner with a secure asset base. Navios' focus on risk management characterizes the company's commercial and operational decisions and enables business partners to reduce their vessel and cargo exposure, and to control shipping and fuel costs. Navios' combination of technical and financial expertise and balance sheet strength make the company a preferred business advisor and counterparty for industry-related transactions.

JP Morgan Securities and Deutsche Bank Securities are serving as the IPO's lead underwriters. S. Goldman Advisors is also backing the offering. The underwriters have an option to buy up to 3.3 million additional units to cover any overallotments.

Navios Acquisition plans to list its units, stock and warrants on the New York Stock Exchange.

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SMA Solar Technology IPO: SMA Solar IPO Germany

A new IPO is set to hit the German Stock markets very soon. The IPO belongs to SMA Solar Technology.

What is the size of the SMA Solar Technology IPO?
The SMA Solar Technology IPO is expected to raise around 150 million Euros from its initial Public offering. This amount equals around USD 232 million.

How many shares will be sold through the SMA Solar Technology IPO?
A total of 11.5 million shares will be offered for sale through the SMA Solar Technology IPO. This figure includes 4.5 million new stock and an over allotment figure of 1.5 million shares.

What are the opening dates for subscription to SMA Solar Technology IPO?
The SMA Solar Technology IPO will be open on date June 23 and end on the July 3, 2008. The listing will happen on July 4, 2008 at the Frankfurt stock exchange.

What are the financial results and business valuations of SMA Solar Technology?
The Company had revenue of 327.3 million euros in 2007 and a net profit of 36.8 million euros. Based upon the filings, the PE or price to earnings ratio for the SMA Solar Technology IPO is calculated to be around 13 times the earnings of year 2007.

How is the SMA Solar Technology IPO standing with respect to its peers on Frankfurt stock exchange?
The other technology companies, or better to say the technology index is around 40 times the 2007 earnings, as per the news from DZ bank.

What is the business of SMA Solar Technology ?
The SMA Solar Technology company makes inverters that transform solar panel energy into electricity for the power grid.

Deutsche Bank DBKGnb.DE and Citigroup are the joint global coordinators and Commerzbank and LBBW as co-lead managers.

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Maritime Capital Shipping IPO Singapore

Another IPO to hit the Singapore stock markets. The IPO or initial public offering belongs to Maritime Capital Shipping of Singapore.

What is the total size of Maritime Capital Shipping IPO?
The Maritime Capital Shipping IPO is expected to raise around $300 million from its IPO or initial public offering.

What is the price range or price band of Maritime Capital Shipping shares?
The shares of Maritime Capital Shipping IPO will be offered in the price band of S$1.24 to S$1.46 per share, though the filing says the price is indicative.

What are the business valuations and market outlook for Maritime Capital Shipping IPO?
The Hong Kong-based Maritime Capital Shipping firm is engaged in the transport of dry bulk commodities and has a fleet of 18 small vessels, which it plans to expand to as much as 30 by 2009 with cash raised from the sale of the shares.

What is the existing shareholding pattern of Maritime Capital Shipping IPO?
Some of its existing shareholders -- mostly offshore investment funds -- will sell shares, while the company will also sell new shares in the IPO.

Is this the right time to invest in shipping companies?

Experts believe yes, but only if you have a long investment horizon. Shipping companies are trading at a discount to the broader market because of concerns about global economic growth and slower trade. Hence, you can find a bargain during this time and wait for a few years to capitalize upon the holdings.

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Somi Conveyor Beltings IPO

A new IPO or initial public offering is expected in the Indian stock Markets very soon. The IPO belongs to Somi Conveyor Beltings Limited.

What is the size of the Somi Conveyor Beltings IPO?
The Somi Conveyor Beltings IPO expects to raise around 218 million Rupees through its IPO or initial public offering.

How many shares will be sold through the Somi Conveyor Beltings IPO?
A total of 6.2 million shares will be sold through the Somi Conveyor Beltings IPO. The issue will constitute 40 percent of the post-issue, paid-up capital of the company.

What is the price per share of Somi Conveyor Beltings IPO shares?
The price of Somi Conveyor Beltings IPO shares has been finalized at Rs. 35 each and has the standard face value of Rs. 10 per share.

What are the business valuations of Somi Conveyor Beltings IPO?
Somi Conveyor Beltings Limited is a manufacturer and exporter of Rubber Conveyor Belts of all grades for material handling. Conveyor belts are used in a wide variety of material transport applications such as manufacturing, food processing, and heavy industries. Belt construction and belt materials are often application-specific.

When will the Somi Conveyor Beltings IPO issue open for subscription? The opening dates for application to Somi Conveyor Beltings IPO is June 24, 2008.

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Bayan Resources IPO Indonesia

Another IPO or initial public offering is set to open in the Indonesian Markets. The IPO belongs to Indonesia's PT Bayan Resources Tbk.

How many shares will be sold through the Bayan Resources IPO?
A total of 833.3 million shares will be sold through the Bayan Resources IPO. That constitutes 31.6 percent of total capital.

What is the price of the Bayan Resources IPO shares?
The price or price band of the Bayan Resources IPO shares has not been decided at the time of writing this article.

What are the subscription dates of the Bayan Resources IPO?
The Bayan Resources IPO will open for subscription from July 29 to August 1, 2008.

When will the shares of Bayan Resources IPO list on the stock exchange?
The shares of Bayan Resources IPO will start trading on August 8, 2008 on the Indonesian stock exchange.

Where will the capital raised be used by the Bayan Resources IPO?
The Bayan Resources IPO proceeds will be utilized to acquire a floating transfer station, to strengthen its working capital and to expand its coal business.

Related: Kertas Basuki Rachmat IPO, Panorama Destinasi DTN IPO

What are the financial results and business valuations of Bayan Resources IPO?
The company's coal mining sites are mostly located on Kalimantan island.
Bayan's coal output in 2007 reached 4.7 million tons, down from 5.1 million tons in the previous year.
Its sales in 2007 rose to 3.45 trillion rupiah, up from 3.0 trillion in the previous year. In the first three months Bayan's sales reached 772.1 billion rupiah against 912.5 billion in the same quarter last year.
Bayan Resources is owned by individual businessmen -- Dato' Low Tuck Kwong with 75 percent, Jenny Quantero with 15 percent and Engki Wibowo with 10 percent.

Indonesia's PT Bayan Resources Tbk, the country's eighth largest coal producer by output, It said PT Trimegah Securities Tbk will underwrite the IPO, which is slated for July 29 to August 1. After the IPO, Kwong's stake will decline to 51.3 percent, Quantero's to 10.3 percent and Wibwo's to 6.8 percent.

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KSK Energy IPO: KSK IPO

A new IPO will soon open in the Indian Markets. KSK Energy Ventures Limited is planning to come out with its IPO or Initial Public Offering.

What is the size of the KSK Energy IPO?
The KSK Energy IPO expects to raise around 13 billion INR or Indian Rupees through its IPO. This amount also includes the fund raised through the pre-IPO share offer.

How many shares will be offered for sale through the KSK Energy IPO?
A total of 34.6 million shares will be offered for sale through the KSK Energy IPO. KSK's public offer and pre-IPO placement, through a fresh issue of shares, will constitute 15 percent of the post-issue capital.

When will the KSK Energy IPO open for subscription?
The KSK Energy IPO will open for subscription on June 23, 2008 and close on June 25, 2008.

What is the price band or price range of KSK Energy IPO?
The shares of KSK Energy IPO are priced in the price band of Rs. 240 to Rs. 255 per share.

Its promoter, London-listed KSK Power Ventures on Friday said it issued 17.306 million shares to a clutch of institutions including Macquarie Bank, Infrastructure Development Finance Co, Axis Bank and GE Capital, at 240 rupees each, raising 4.15 billion rupees.

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Madison Square Capital IPO

A new IPO is set to hit the capital markets very soon. The IPO or initial Public offering belongs to Madison Square Capital.

What is the size of the Madison Square Capital IPO?
Around 300 million USD are expected to be raised through the Madison Square Capital IPO.

Where will the IPO proceeds or fund raised be used by the Madison Square Capital IPO?
The capital raised from the Madison Square Capital IPO will be used to invest principally in single-family residential mortgage securities. The proceeds will also be used for investments and to acquire securities.

How many shares will be offered for sale through the Madison Square Capital IPO?
A total of 22,230,782 shares will be offered for sale through the Madison Square Capital IPO. The company has granted the underwriters up to an additional 2,993,550 common shares to cover any over-allotments.

What are the important dates like IPO opening date, subscription dates and listing date for Madison Square Capital IPO
There is no information available at the moment about the dates for Madison Square Capital IPO.

What is the price of shares of Madison Square Capital IPO?
The price of Madison Square Capital IPO shares has been set at $15 per share.

The real estate investment trust named Friedman Billings Ramsey, Jefferies & Co. and Lazard Capital Markets as co-lead managers for the offering, Madison Square has applied to list its shares on the New York Stock Exchange under the symbol 'MDQ.'

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ICICI Prudential launches Top Up plan in SIP & Mutual Funds Investments

You have “top-up” facility in your prepaid mobile phone recharge, now you can also avail the same facility in your investments in Mutual Funds from ICICI Prudential Asset Management Company.

Top-Up plan: For the first time in India, systematic investment plan with a feature of a “Top-Up” in the mutual fund industry has been announced by ICICI Prudential Asset Management Company.

Basically, this plan or this feature has the so-called top up facility. This top up facility allows the investors to increase their periodic investment or systematic investments through an automated route in multiples of Rs 500, on a pre-determined and regular basis.

Say for example you decide to get into a mutual fund managed by ICICI Prudential through a monthly SIP or systematic investment plan. In this plan, you decide to contribute 5000 per month. Now you opt for the top up facility and decide to increase you SIP amount after every year by 500 Rs. Hence, till one year, each month you would pay 5000 for the SIP investment. After 1 year, your monthly SIP investment amount will increase to 5500. After 2 years, it will become 6000 per month and so on.

The key benefits of the scheme are that it offers the flexibility to top up investment at pre-determined intervals of six months or 12 months. Also, it is said that the automatic features like a direct bank debit, or payment through debit card or credit card will provide execution ease in the investment process and reduce the efforts required by investor.

However, one of the biggest problems with this setup is that you will have to declare the top up amount and frequency before the commencement of the scheme. Say if you are willing to invest for 20 long years, you will have to make a prediction about your income and then take up the top up plan. There is no information available whether you can stop or basically – top-down – your investments based upon your situation. No information is available about the charges that the ICICI fund management will take if one wishes to top down or stop payment.

Related: ICICI RICH ULIP NFO Review, ICICI Prudential Focused Equity Fund

Another problem is that this top up plan is available through direct fund clearing, so one has to ensure that the increased amount is available at the specified date. What if your salary doesn’t reach your bank account on time and is delayed by a day or two?

Then the biggest question is about the consistent flow of funds. What if you loose your job after some time and do not have the extra money to invest? Can you come out of this scheme? What are the penalty charges? No info is given about that. ICICI has a very bad reputation when it comes to imposing penalties.

Investors are advised to be aware of these charges before making a long or short term commitment. If things go bad, the ICICI AMC will show no mercy on you while imposing charges and penalties. A good feature altogether, provided you are sure about what you want to achieve and whether you have consistent funds to honour your investment obligations or not.

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Outback Metals IPO

A new IPO is set to come out in the Australian Stock Markets. The IPO belongs to Tin miner Outback Metals, which is set to come out with the initial public offering in the primary stock markets.

How many shares will be offered for sale through the Outback Metals IPO?
A total of 30 million new shares will be offered for sale through the Outback Metals IPO.

What is the price of Outback Metals IPO shares?
Each share of Outback Metals IPO will be offered at 20 cents per share.

What is the expected size of the Outback Metals IPO?
The Outback Metals IPO is expected to raise around 6 million dollars. This Outback Metals IPO will take the company’s valuations to 36.6 million dollars.

What are the business valuations and financial results of the Outback Metals Comapny?
Outback Metals holds seven exploration tenements, covering more than 1,600 sq km, and 10 applications for exploration licences over more than 2,000 sq km.
The company also has 40 mining leases and mining claims in areas that have yielded saleable metal in the form of concentrate.
The company's primary target is tin, with secondary targets including gold, uranium and copper.

Where will the capital raised or IPO proceeds be use by the Outback Metals IPO?

The funds raised by Outback Metals IPO will be used to develop a number of projects in the Northern Territory. Outback Metals plans to reach production status within two years from two advanced projects.

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Sultan Mining IPO Philippines

Coal miner Sultan Mining and Energy Development Corporation is all set to come out with its IPO or initial Public offering. It has recently obtained regulatory approval for its IPO.

What is the size of Sultan Mining IPO from Philippines?
The Sultan Mining IPO is expected to raise around P480-million (or USD 10.8 million) thorough it proposed IPO.

How many shares will be offered for sale through the Sultan Mining IPO?
A total of 480 million shares will be sold through the Sultan Mining IPO.
That constitutes one-third of the total shares of the company.

What is the price per share of the Sultan Mining IPO shares?
The shares of Sultan Mining IPO will be offered for sale at the price of P1.00 per share.

When will the Sultan Mining IPO open for subscription?
The Sultan Mining IPO will remain open for subscription from June 26 to July 2.

When will the shares of Sultan Mining IPO list on the stock exchanges?
The shares of Sultan Mining IPO will be listed on the Philippine Stock Exchange on July 9, 2008.

Where will the fund raised through Sultan Mining IPO be used?
Sultan Mining said the estimated net proceeds of P438.4 million will be used to partially finance the company's capital expenditures related to exploration activities.

What are the business valuations and other information about Sultan Mining IPO Philippines?
The company operates coal mines in Surigao del Sur in the southern Mindanao island.
Asian Alliance Investment Corp. is the sole issue manager and underwriter.

Sultan Mining's IPO follows that of San Miguel Brewery Inc., a unit of food and drinks group San Miguel Corp. SMBI's offering in late April raised around 6 billion pesos, or just a quarter of the amount originally targeted, after the company decided to cut the offer size to just 5.0 percent of its outstanding stock amid weak market sentiment. The shares were sold at 8 pesos each, the low end of the indicative range.

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Save Fuel : How to cut Petrol Diesel Costs

Here are some tips which I received as an email forward on how one can save a lot on petrol diesel and gasoline costs, while using their vehicles/automobiles. The high rate of fuels is eating us out. Better to take some measures that can make some difference in our spending.


Some tips for saving Petrol and Diesel:

Only buy or fill up your car or bike during early morning, when the ground temperature is still cold. Remember that all service stations have their storage tanks underground.. The cooler the ground, the more dense the fuel. When it gets warmer, petrol expands. So, buying in the afternoon or in the evening, your litre is not exactly a litre.

In the petroleum and oil business, the specific gravity and the temperature play an important role. Just one degree rise in temperature is a big deal for this business. But the fuel pumps and service stations do not have temperature compensation at the pumps.

Another most important tip is to fill up when your tank is HALF FULL. The reason for this is, the more fuel you have in your tank the less is the air occupying its empty space. This will prevent the petrol volatility to a larger extent. Petrol evaporates faster than you can imagine.

Another useful information is to avoid filling up if there is a fuel truck pumping into the storage tanks when you stop to buy. Most likely, the petrol/diesel is being stirred up as the fuel is being delivered, and you might pick up some of the dirt that normally settles on the bottom.

Avoid honking – use your horn only when required. A portion of lights and other power sources are taken from fuel. Even if they are taken from battery, you will end up charging the battery which will again cost heavily on fuel.

Most important of all – identify a genuine petrol pump where there are less chances of cheating and adulteration. Always keep a close eye on the meter while filling the petrol.

Avoid taking the so called Speed, Power or Turbojet kind of high-efficiency Fuels. There is no concrete information available about their performance and efficiency. Also, they are way costly than the normal regular petrol and diesel. Hope this will help you get the most value for your money.

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Glennstars IPO Netherlands Holland

A new IPO is set to hit the Dutch markets very soon. The IPO or initial public offering belongs to Glennstars Limited.

What is the expected size of Glennstars IPO from Netherlands?
The Glennstars IPO from Netherlands expects to raise around 150 million Euros.

How many shares will be offered for sale through the Glennstars IPO?
A total of 15 million shares will be offered for sale through the Dutch Glennstars IPO Holland. An over-allotment option is given to the managers of the issue to buy an additional 2.25 million shares and it could increase the amount of shares that it offered for sale or cancel the IPO.

What is the price of the Glennstars IPO shares?
Each share of Glennstars IPO is priced at Euro 10 per share.

What are the opening dates of the Glennstars IPO Netherlands?
The Glennstars IPO will remain open from June 11 and June 26. The listing of shares will take place on June 27, 2008 at the AEX or Amsterdam Stock Exchange.

Where will the proceeds be used from Glennstars IPO Netherlands?
Glennstars did not say what its activities were but other companies located on the Channel Islands that listed recently on the Amsterdam exchange are investment funds, like Guernsey-based Lehman Brothers Private Equity Partners Ltd and HarbourVest Global Private Equity Ltd.
Friedman Billings Ramsey is the global manager and bookrunner for the IPO, Fox-Pitt, Kelton the co-manager, and ABN AMRO Bank N.V. and Friedman, Billings, Ramsey International, Ltd are co-listing agents.

Sultan Mining's IPO follows that of San Miguel Brewery Inc., a unit of food and drinks group San Miguel Corp. SMBI's offering in late April raised around 6 billion pesos, or just a quarter of the amount originally targeted, after the company decided to cut the offer size to just 5.0 percent of its outstanding stock amid weak market sentiment. The shares were sold at 8 pesos each, the low end of the indicative range.

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