Its a tried & tested formula for Bovespa & seems to work allright.
The recent 2 IPO's by HRT & KAR r modelled after OGX's listing in June '08, wherein OGX had issued a small amt of stk at a higher value (in Brazilian Reais, R$) & 18 mths later (Dec'09) did a 100:1 split to make it easier for others to afford the share.
So at a 4-digit SP, it was meant for 'sophisticated' insto's initially & now at SP of R$22, it looks more affordable to the average investor.
See illustration below:
1) OGX IPO 12/6/08:
- 5192473 sh @ R$1131 = R$5.872 bil
- Share split on 18/12/09 for 100:1
- On 13/9/10: Annc'd a spin-off (aka 'sale') of 30% equity to other interested cashed-up operators. This should get them few billions in the bank.
2) HRT's Oct'10 placement:
1,938,789 shares @ R$1200 = raised R$2.332b
3) KAR SA's proposed IPO:
1,030,000 @ R$1025-1275 = R$1.055-R$1.32b
Another pattern here is, that all 3 explorers (besides PBR) have a resource certification frm DeMac & a $/boe valuation.
Enough time has already been spent on acquiring state of the art 3D seismics, which gives their prospects a 24-35% average CoS within the same geological formations in the Cretaceous (Albian & Aptian Sands).
So all that's reqd nxt, is to:
- Raise some capital (note: 3D seismics r cheaper max $15-20mil Capex),
- Source a rig &
- Drill & discover the prospects
- Development will follow eventually & will need more Capex (FPSO hire etc).
- Forums
- ASX - By Stock
- KAR
- karoon sa
karoon sa, page-38
-
- There are more pages in this discussion • 1 more message in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add KAR (ASX) to my watchlist
|
|||||
Last
$1.74 |
Change
-0.028(1.55%) |
Mkt cap ! $1.403B |
Open | High | Low | Value | Volume |
$1.78 | $1.79 | $1.74 | $4.045M | 2.304M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
27 | 148181 | $1.74 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.75 | 68550 | 45 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
22 | 145086 | 1.740 |
28 | 94382 | 1.735 |
20 | 166119 | 1.730 |
16 | 167689 | 1.725 |
20 | 371999 | 1.720 |
Price($) | Vol. | No. |
---|---|---|
1.745 | 84939 | 49 |
1.750 | 107932 | 31 |
1.755 | 94853 | 19 |
1.760 | 96955 | 15 |
1.765 | 91803 | 9 |
Last trade - 15.38pm 15/08/2024 (20 minute delay) ? |
Featured News
KAR (ASX) Chart |
The Watchlist
I88
INFINI RESOURCES LIMITED
Charles Armstrong, CEO & Managing Director
Charles Armstrong
CEO & Managing Director
SPONSORED BY The Market Online