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We better hope that there are no leakages, however personally I find it strange. If I were to be willing to get rid a bigger position I would not advertise that in the market. However one could speculate that by doing so, some shareholders might get frightened and sell down the stock. Illegal and had to prove, but has it happened in the past, absolutely.
150k shares out for sale now between 51-50 P/S in Oslo. Something ought to be going on?
RealDutch, I think you need to acknowledge it is not necessarily the question whether SIAF is the cheapest or not anymore, there are most likely more significant financial asymmetries out there. However you need to start believing in the success story that is being portrayed too. We have for long questioned why this company with all its potential and growth is being undervalued. Now that it is trading in Norway and there is an article out where some investor is claiming he is buying shares for ~$4.5 it is all great publicity no matter of the underlying. You are nit picking atm imo, we have been arguing that SIAF is cheap. It may be however that the revaluation is not happening at the time where everything is perfect, either because people do not know what they are doing or who knows they might be taking a bet.
Here is even a "what to do list" to become a Chinese $1BN listed in the US.
Peter Grossman should have a look. Not all of the points are applicable but many are.
http://blogs.ft.com/beyond-brics/2013/09/12/nq-mobile-it-pays-to-be-less-chinese/#axzz2jPRTv2od
I have to edit it, in case people do not see the irony since the example is based in NQ. However, NQ got where it was because of them being americanised and not percived as a pure chinese company but rather an international one. An co American/European CEO wouldn't be too bad for legitimacy.
RD do you have an email where I can contact you?
At one point people mentioned the fact that the company intended to use the increased A/S as collateral. However, I cannot really see that working, its simply not stable/trust worthy enough for it to be taken seriously.
Hence we will probably go down to the low 40s or perhaps even below that due to "share over hang". We will have another rally pre q3 and perhaps a rally as RD mentioned if they announce a bigger prawn contract. Still it will not be enough, management's behavior as what we are witnessing makes it look like a scam. Who is seriously "stupid" enough (if I might say so) to issue equity this cheap if there is not something fishy about it?
IMO, a new listing will not have mattered if this behavior would continue. Diluting 30% annually is astonishing?
I havent understood what people here think yet. Do you share my fear that mr S will continue his dilution quest with the additional 40 million shares?
I agree with everything you are saying. I do not believe that this company is a hoax and that the stock market probably are wrong.
All I am trying to convey is that my personally belief is that few European investors would put 500MSEK into a bond issued by SIAF. If they managed to attract any Asian investor, maybe. A reasonable investor would buy the stock given the circumstances rather than the bond. If there are investors looking purely for yield, they would not pursue an investment in SIAF.
I dont intend to baisse SIAF, but rather create a discussion around this issue. Some ppl (not you RD) tend to be a bit naive here imo.
I hear you, but in my eyes it is still not a believable scenario. There are many firms in the Nordic region offering bonds with similar a coupon some are lower others are higher. Why would an investor or Nordic fixed income as you mentioned invest in a company operating far away and on top of this, a company that are exposed to risk outside their control?
I used to work within a corporate finance firm in competition to Penser, and I cannot see that investors would be daring enough to go for the SIAF bet. Given the circumstances, an investor could obtain a similar yield through investing in similar bonds offered by firms on the senior OMX exchange?
As I tried to it point out, a senior bond is no good if they would go bankrupt. If there would be no risk for them to go bankrupt or the fact that the numbers the company produced are a 100% legit the stock would not be trading at 0.55 cents? That would be the argument the investor would put forward.
I own SIAF and I think that their is a huge upside potential, however I do not understand who would invest in the bond therefore, I dont think that it is likely that they will announce it before their Q3 earnings.
Could you tell me why anyone would want to invest 500MESK in a bond which carries as much risk as the stock but with a fixed coupon of 10%?
On top of it, SIAFs market cap i about 70MUSD which is less than the bond itself.
I am well aware of the fact that bonds normally do not carry the same risk as a stock. However since SIAF are misspriced to the degree it is, the question is rather whether there are any underlying value/truth in SIAF. If SIAF would be a fraud the bond would be as useless as the stock.
Its not about news, the same thing will happen again. We need a better listing which signals better transparency.
What we have had is a lot of buyers considering that when I bought the stock for the first time we had a share count of 44 million. Everything has already been said about it here. Natural demand would have made this stock a winner, it is just that green figures has fought the endless head wind of additional shares.
I am not up to par with this information, can we expect another share overhang of 40 million till we list or is that the stocks that some poeple argued here will be sold for 1$?
From 14C
"What action was taken by written consent?
We obtained stockholder consent for the approval of an amendment to our articles of incorporation to increase our authorized shares of common stock, par value $0.001 per share (the “Common Stock”), from 130,000,000 to 170,000,000.
How many shares of voting stock were outstanding on the Record Date?
On the Record Date, the date we received the consent of the holders of a majority of the voting power of our stockholders, there were 127,713,766 shares of Common Stock outstanding"
page 98 S1, mgmt sharecount 16.6milion. not those 25million as presentation claimed?
Avanza and nordnet 30 million I wonder whether other swedes really hold an additional 30-50 million in other institutions.
Regarding the restaurant, how many customers do they anticipated serving per day? According to solomon's presentation last quarter they had revenues of about 500 000USD which would imply that they sold for roughly 9000 CNY per day. Average price per person 50 makes 180 ppl eating there every day 365 days throughtout the year. I have no idea about the size of this place. I myself have spent 4 months in China this year and 50CNY is quite a lot for ordinary Chinese.
Obviously 50 is an average some might spend 30 other 80 but 50 is still rather expensive according to my experience.
What do you say is it feasible?
Why would Penser invite people before the summer if there would be no intention to list until after the summer?
Penser writes.
"Sino Agro Food, verksamt inom den kinesiska jordbruks- och livs- medelssektorn, a¨r fokuserat pa° att tillgodose den va¨xande efterfa°- gan av ho¨gkvalitativ mat i Kina. Bolaget har nu la°ngt framskridna planer pa° en aktielistning pa° First North"
Google translate
"Sino Agro Food, active in the Chinese agri-food sector, is focused on meeting the growing demand of successors-quality food in China. Company now has advanced plans of a stock listing on First North"
A bird whispered into my hear that SIAF's management are going to sthlm in two weeks to conduct two presentations. Things are moving, time for revaluation.
Chad, I believe that it would be a credible signal if the company or you could confirm the name of the norwegian counterpart from whom SIAF intend to buy their fish. Even though all the Chinese companies in the financial reporting probably exist, it would be reassuring for me an european investor to see that their are visible european companies trading with SIAF; to create legitimacy.
Hello people, I must admit that it is a strange feeling, I have been reading here for more than a year and got to understand how some of you think and act, while you have no clue about me.
Anyway, I believe that Chad got a point regarding NITE, Avanza Bank executes their trades through NITE, and it wouldn't surprise me if Nordnet would do that too, i.e. 16%? of SIAF's shares should be traded via NITE.
In addition, it is not surprising that people is selling parts of their investment in order to place their investments in other assets when the market is falling. SIAF is after all close to where it was 6-9 months ago.