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Sorry to disappoint, I know a dozen people who daytrade this issue so I think there are far more than that number. They cause the swings and nothing we can do but buy on these dips like they do.
The old phrase "buy the rumor sell the news" and daytraders NEVER hold over a weekend. JMHO
Matt will take care of him so let him post his trash-take it for where it comes from and what it's worth.
I contacted IR and he said there should be no restriction of news coming from GCC and he expects another press release next week. He also mentioned that part of the debt removal the SEC filings cost will be picked up by Unigel.
Most important is the value of the 17.5 million shares returned to GCC. And the debt removal is huge. There will be more news coming as the separation becomes final with the 8k filing. Followed then by all the previous years 10Q & 10K filings.
IR says the audits are in the final stages and a new board of directors will be chosen. Then, IR says, there is a proposed shareholders meeting set for the middle of Feb'06. I think this suggests that ALL the SEC filings will be complete before that time.
There is little doubt in my mind that things will erupt quicker but with this company's track record of delays, best be conservative. Thanks for your input.
Thanks for the charts Mick-you are welcome here and if you find any hidden news we appreciate all informative & factual postings.
This company should roar into the year 2006 with new partners and exciting news that should make all investors happy.
HONG KONG, Oct 20 (Reuters) - China Construction Bank raised US$8 billion in the world's largest IPO this year, sources close to the deal said on Thursday, as solid investor demand put the issue near the top end of expectations.
The initial public offering by China's third-largest lender was the country's largest to date and surpassed the previous largest IPO this year -- US$5.5 billion raised in July by Gaz de France (GAZ.PA: Quote, Profile, Research) .
CCB, which operates China's second-largest branch network and has 145 million active retail accounts, attracted about 9.5 times more shares than offered as investors clamoured for a piece of China's nine-plus percent economic growth.
CCB shares will start trading in Hong Kong on Oct. 27.
CCB sold 26.486 billion shares, or 12 percent of its enlarged share capital, at HK$2.35 a share. The IPO price was near the top of an indicated price range of between HK$1.90 and HK$2.40.
The IPO values the country's top property lender at US$66.5 billion, making it the third-most valuable bank in Asia after Japan's Mitsubishi UFJ Financial Group (8306.T: Quote, Profile, Research) and Mizuho Financial Group (8411.T: Quote, Profile, Research) .
The IPO price represents 1.96 times China Construction's book value and 13 times expected earnings per share of HK$0.18. By comparison, smaller mainland rival Bank of Communications (3328.HK: Quote, Profile, Research) trades at 2.2 times book and 19.4 times 2005 earnings. On average, Asian banks excluding those in China and Japan trade at 1.67 times 2005 book.
Chinese banks are plagued by bad debts accumulated over decades of state-directed lending, but Beijing has injected about 3.3 trillion yuan ($408 billion) to clean up CCB and its rivals including Bank of China [BOC.UL] and Industrial and Commercial Bank of China [ICBC.UL], which plans to list in 2006.
SOLID DEMAND
The retail portion of the IPO was lifted to 7.5 percent from 5 percent as small investors applied for about 42 times the shares initially earmarked, sources close to the deal said.
Institutional investors, including Hong Kong tycoons and Chinese insurers, placed orders about US$59 billion.
Bank of America (BAC.N: Quote, Profile, Research) and Singapore government investment agency Temasek Holdings [TEM.UL] bought a combined $1.5 billion worth of CCB shares in the IPO.
In June, CCB sold a 9 percent stake to Bank of America, the second-largest U.S. bank, at 1.15 times 2004 book value. Bank of America has the option to increase its stake in CCB to 19.9 percent.
Morgan Stanley (MWD.N: Quote, Profile, Research) , China International Capital Corp. and Credit Suisse First Boston (CSGN.VX: Quote, Profile, Research) were the deal's joint bookrunners.
CCB, led by former foreign exchange head Guo Shuqing, has cut a quarter of its staff and a third of its branches since 2002 to improve efficiency. The bank is also tightening control over its 14,250 branches.
Guo had said personal banking and fee-based business would be the main growth drivers for the bank.
CCB's cost-to-income has declined 11 percentage points to 39 percent and its return on assets was boosted to 1.3 percent in 2004, the highest among Chinese banks.
The lender's non-performing loan (NPL) ratio has fallen to 3.9 percent versus the average 4.4 percent for mainland-listed banks.
(US$1=HK$7.8=8.09 yuan)
Company is ready to file an 8K with the SEC and this report should clear up some of the "behind the scenes" activities. All is well in Gotham!
Everyone adding GCHC to their portfolio at these prices will be all smiles come the New Year. The MM's have been alerted so nibble till news arrives. Have a great autumn!
Tiger-Scott-Toms-Garcia-Harrington Score-270
This is not quite a firesale but your points are well taken. One man's junk is another man's treasure.
Harrington out-Furyk in. Thank you.
Harrington, Garcia, Goosen, Leonard and Tiger Woods 273
Change-nothing more.
Yup-he asked me to post the change but I forgot to notify you correctly. :o)
Jerry Kelly to replace Triplett.
David Toms...Chad Campbell...Jim Furyk...Tiger Woods...R. Goosen and the total winning score...275
I don't understand this comment as written: "The long-standing agument on various threads that GCHC is a great buy because they aren't diluting the OS by issuing more shares looks shakey."
Dilution IS the result of issuing more shares or increasing the OS. Not "diluting the OS" ???
Excellent discussion and therewithin lies the reasons for the delays in filing the 10K and the quarterly reports. It is my feeling that the sooner GCC rids itself of this fester the better for all of us shareholders.
I would suggest that you contact the CEO, John Allen and get some answers. It is very apparent that you have the wrong information. Please post here, what you gather, from your talks with the CEO. Thank you.
That's a very good thought. I think most who have a position are just waiting for the 10K and then inhale.
I've been numb for years but once the new board takes action, things will surely change for the good.
You have the right attitude, we must trust management to do their best. Since they control a majority of the OS and these shares are restricted till the 10k is released, I'll just wait it out.
You guys/gals keep it civil with no hidden agenda and those posts, you are so concerned with, won't disappear.
If one can believe John Allen, then chapter one will be written in 2 weeks. Maybe this saga will delight us all but then I've been optimistic for a decade.
IR told me the board of directors will be adding 2 members very shortly in order to meet the S-O requirements. As the ad says "we gelin".
This is a list of Greater China Stocks currently trading in the US. Cap. of over $100mm
ACH, ASIA, ASTT, ASX, AUO,
BYH, CAAS, CBA, CEA, CEO,
CHA, CHINA, CHL, CHT, CHU,
CN, COGO, CTEL, CTRP, CYD,
DSWL, GSH, HNP, HTX, ICAB,
IMOS, INTN, JCC, JOBS, JRJC,
KONG, LFC, LONG, LTON, MXICY,
NCTY, NINE, NTE, NTES, PCW,
PTR, RADA, SAT, SDAY, SHI,
SINA, SMI, SNDA, SNP, SOHU,
SPIL, TOM, TOMO, TSM, UMC,
UTSI, WZEN, XING, YZC, ZNH
GCS Close End Funds:
CHN, GCH, JFC, TDF, TFC,
TWN
Indexes:
FXI, HXC, PGJ
These are China issues trading on the US stock exchanges & Canada that have a Cap. of under $90mm.
ADIY, ATS, AXJ, BNSO, CHDX,
CHNR, CLWT, GAI, HIHO, HURC,
JADE, JST, NWD, PACT, PEAK,
PFCB, SSPI, SVA, UUU, ZICA,
ZNDT
BB Stocks
AOBO, AWRCF, CBBT, CHDW, CTGLF,
CXTI, DRUG, FEEC, HRCT, HQSM,
TBGU, TESN, TTVL, YIWA
Canada Stocks:
APC, CHV, CPT, HF, IVN,
JIN, LAM, LMD, SWG
281 or 7 under par-just in case they change from a 72 par to 71.
10-4 Will be interesting to see if they grow deeper rough making it tough for TW to score.
Thank you ddf. I could wait for happy hour but it's nice to have friends willing to help. GLTO
Looks like the market trying to seek some direction. Maybe once tax time passes we will then be able to get a better handle on where it is headed. Enjoy the holiday and wishing all of you & families the best of health.
I'll 3rd that holiday cheer. Cute bunnies Creek, which one is going to lay the colored eggs? :o)
I wrote IR today and asked when can we expect some news or the 10K. He said he is still waiting for a response from John Allen or John Steinbeck. When he gets some feedback he will gladly pass it on.
Enjoy the Easter celebration, nothing to "hop" about coming from GCHC but one never knows.
-- The State Administration for Industry and Commerce announced Thursday that private enterprises will be encouraged to enter some of the country's historically state-owned sectors -- including power, telecommunications, rail and civil aviation.
The administration distributed a notice to the administration's local branches instructing them to support private companies to fund and operate projects in the sectors.
The administration said it will continue to broaden access for private enterprises in other monopoly businesses where private funding is not prohibited by law.
The notice came following an earlier decision by the State Council, or the country's cabinet, to encourage the development of both public and private economic sectors.
Greater China Corp has plans to take advantage of these policy changes
Make sure you do just that...DO NOT TRADE THIS ISSUE...you are an LT holder, the SEC filings are just the start, let the Co. report the "rest of the story" before you start selling or trading. Force the MMs to try and get shares. There are very few shares outstanding that they can manipulate.
Remember>>>>This company had 4 years to dilute and screw it's shareholders with other "pinko" schemes-but it did NOT-it spent the monies generated by Unigel to expand, pay off debt and make new contacts. All directed to have the shares owned worth many fold their purchase price.
"Like a thief in the night"
The move to $2 will come and the "coulda & shoulda" people will be wondering "What happened?"
.Will this be the year for celebration?
I am hearing nothing but optimism and positives coming from GCC. The loooooong wait for substance may soon be history and the future, like that of China, appears very bright.
Trades going through @$5.00. Looks like there may be more news coming shortly.
Spoke with Mayfield, KY Co. and they said they have no clue about Quadrax or going public. Apparently Knobias is in error as often is the case.
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Might have to wait till Tues. to find out more as tomorrow is a holiday. This web site fits the news: www.turboaftermarket.com/ , at least these guys have done Goverment jobs and are viable.