tag:blogger.com,1999:blog-37872616.post3843856249049070713..comments2024-03-29T17:14:25.039+08:00Comments on BULLy the BEAR: Jumbo Group IPO - Good buy or Goodbye?la papillionhttp://www.blogger.com/profile/01372278083694506953noreply@blogger.comBlogger15125tag:blogger.com,1999:blog-37872616.post-18535890105570416112015-11-04T12:47:08.483+08:002015-11-04T12:47:08.483+08:00I'm not sure if the 50 mil dividends to be dec...I'm not sure if the 50 mil dividends to be declared after listing is already included in. My accounting skills are not so good. If it's not inside, then we have to be careful. Anyway, will become clearer once they ipo hahala papillionhttps://www.blogger.com/profile/01372278083694506953noreply@blogger.comtag:blogger.com,1999:blog-37872616.post-46168628258272189292015-11-04T12:44:31.345+08:002015-11-04T12:44:31.345+08:00After the $50M special dividends paid out to pre-I...After the $50M special dividends paid out to pre-IPO shareholders, the financial ratios of Jumbo will look very ugly! <br />Already, even at IPO, the assets to Total equity ratio is already >13 times (with total Equity at $5.798M and Total Liabilities at $69.178M). <br />So after $50M special dividends paid out, the company will have negative equity! <br />All financial ratios will turn uglier. <br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-37872616.post-88932594502688228932015-10-31T09:45:53.731+08:002015-10-31T09:45:53.731+08:00Any decision to buy the stock should probably take...Any decision to buy the stock should probably take into consideration the conditional dividend which I believe new investors will not be receiving and will basically erode the value of the stock.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-37872616.post-74623168847544612842015-10-30T15:40:05.871+08:002015-10-30T15:40:05.871+08:00Hi anon,
Pls leave a nickname next time? Easier t...Hi anon,<br /><br />Pls leave a nickname next time? Easier to refer to you.<br /><br />I think liquidity depends on how many shares you're getting in. If you're entering 200,000 shares, it'll might be a real problem. But if it's 2000 shares, it should be fine. Given enough fire power, there'll always be a liquidity issue. Then, it's a matter of execution rather, and working with the bid/sell queue rather than anything else.la papillionhttps://www.blogger.com/profile/01372278083694506953noreply@blogger.comtag:blogger.com,1999:blog-37872616.post-90475574219325522812015-10-30T15:31:29.651+08:002015-10-30T15:31:29.651+08:00Jumbo IPO seems reasonably priced IMO.
But theres...Jumbo IPO seems reasonably priced IMO.<br /><br />But theres another thing to consider - given that Jumbo is IPO-ing on sgx catalist, plus only 2M shares for retail, could there be liquidity issues?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-37872616.post-65324833370046983492015-10-30T14:30:53.236+08:002015-10-30T14:30:53.236+08:00Hi SillyInvestor,
Don't know whether IPO PE i...Hi SillyInvestor,<br /><br />Don't know whether IPO PE is 9.3x (per LP's data) or 11.6x (per you).<br />But if it is 11.6x, could you please explain how it is derived? (as I don't understand within your context of post-IPO expected share capital of 641.3mil shares & mkt cap of $160.3mil).<br /><br />Sorry for my query, but a newbie here ... Thanks very much.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-37872616.post-10537767651120519142015-10-30T11:40:24.966+08:002015-10-30T11:40:24.966+08:00Hi Paul,
Haha, if they give discounts like soup ...Hi Paul, <br /><br />Haha, if they give discounts like soup restaurants, I'll be a great deal, I agree! Every now and then I'll receive flyers to eat there, but always with min spending hahala papillionhttps://www.blogger.com/profile/01372278083694506953noreply@blogger.comtag:blogger.com,1999:blog-37872616.post-50889514508463771122015-10-30T07:23:44.714+08:002015-10-30T07:23:44.714+08:00Hi LP
jumbo sounds good. Perhaps i shd get some, p...Hi LP<br />jumbo sounds good. Perhaps i shd get some, provided i can.<br />If they throw in some discounts for shareholders dining at their restaurants its is real bonus!cookiehttps://www.blogger.com/profile/13479843455509178396noreply@blogger.comtag:blogger.com,1999:blog-37872616.post-80071942615634310002015-10-29T22:58:24.802+08:002015-10-29T22:58:24.802+08:00I mean "do note this dividend (not IPO) is no...I mean "do note this dividend (not IPO) is not for new owners.."la papillionhttps://www.blogger.com/profile/01372278083694506953noreply@blogger.comtag:blogger.com,1999:blog-37872616.post-73202404995948417912015-10-29T22:57:37.917+08:002015-10-29T22:57:37.917+08:00Hi Bennet,
Yup, it's on pg 49 (prospectus pag...Hi Bennet,<br /><br />Yup, it's on pg 49 (prospectus page) of the finalised prospectus. I quote:<br /><br />"On 19 October 2015, our subsidiaries declared an aggregate of approximately S$51.7 million in conditional interim dividends, which shall be paid within five (5) business days of the date our Company is admitted to Catalist and trading in our Shares commence. Please refer to the section entitled “Restructuring Exercise” of this Offer Document and the “Independent Auditors’ Report and the Compilation of the Unaudited Pro Forma Combined Financial Information for the Financial Year Ended 30 September 2014 and the Six-Month Period Ended 31 March 2015” as set out in Annex C to this Offer Document for more details."<br /><br />Do note this IPO is not for new owners, unless I read it wrongly. It's under past dividends, and it's already declared (19th Oct) before the IPO. It's just that it won't be distributed unless they are listed.<br /><br />If you notice, the total sum raised in the IPO is 88,233,000 x $0.25 = $22 million only. And $51 million is declared...lolla papillionhttps://www.blogger.com/profile/01372278083694506953noreply@blogger.comtag:blogger.com,1999:blog-37872616.post-57516336928147546882015-10-29T22:50:15.255+08:002015-10-29T22:50:15.255+08:00Heard that there is a conditional dividend of $50M...Heard that there is a conditional dividend of $50M+ to be paid out 5 days after it is listed. Anyone can verify?<br /> Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-37872616.post-18956546354342603442015-10-29T21:53:21.416+08:002015-10-29T21:53:21.416+08:00Hi SI,
I just updated the article after reading n...Hi SI,<br /><br />I just updated the article after reading new information - I just got my hands on the finalised prospectus. I think we shouldn't base this type of business on NAV. If we look at PE, it's just alright, not priced exceedingly high so there's still some meat for the IPO to run. IPO won't be cheap one lah, hahah!la papillionhttps://www.blogger.com/profile/01372278083694506953noreply@blogger.comtag:blogger.com,1999:blog-37872616.post-71243337541017516562015-10-29T21:30:06.281+08:002015-10-29T21:30:06.281+08:00Hi LP,
I have been there less than 5 times too, a...Hi LP,<br /><br />I have been there less than 5 times too, always due to relative celebration. I must say the food is quite good but the price is really scary, I will not go there on my own.<br /><br />Cuihuilin is a teochew restaurant and is very popular too. But I find the food so-so for the price.<br /><br />I hope they dun expand too fast and it remind me of how bad QC in both food and service cost Tung Lok and paradise rather dearly.<br /><br />Read somewhere the price is 25 cents. From fool<br />3. How much is the company valued at?<br /><br />Based to its issue price of S$0.25 per share and an expected share capital of 641.3 million shares (post-invitation), Jumbo Group is valued at S$160.3 million. That will value the company at a price to book value of 3.7 times its book value post-invitation and at 11.6 times its price to earnings ratio post-invitation.<br /><br />Ya... Doesn't look cheap<br />Sillyinvestorhttps://www.blogger.com/profile/03228581533460899084noreply@blogger.comtag:blogger.com,1999:blog-37872616.post-35311235246889554362015-10-29T21:14:23.906+08:002015-10-29T21:14:23.906+08:00Hi YP,
You should really look at the pictures in ...Hi YP,<br /><br />You should really look at the pictures in the prospectus LOLla papillionhttps://www.blogger.com/profile/01372278083694506953noreply@blogger.comtag:blogger.com,1999:blog-37872616.post-60300862698185344212015-10-29T21:12:27.065+08:002015-10-29T21:12:27.065+08:00Nice analysis. Thanks! Makes one hungry reading ...Nice analysis. Thanks! Makes one hungry reading it too haha.YPhttps://www.blogger.com/profile/07191798553975785126noreply@blogger.com