SembCorp Industries Ltd *Official* (SGX: U96)

[compro_1975]

Akan datang, newspaper usually post big big when they get the dates settled.

U only need to look out for : Day rights start trading/ Last trading day for rights.

Then you manually calculate how many rights you are entitled to based on how many shares you own (eg. 2000 shares= 10000 rights). Then on the day rights start trading, to the last day you have a window to sell.

It will most likely appear as something like [Sembcorp Marine R] on sgx. then you sell it like a normal stock based on how many rights shares you have.

the market rate of 100share to how many SMM shares not out, hard to calculate.. but how to cal also is odd... haix...

 

[weng0202]

Still 50% down now for my sci

Posted with My hands HardwareZone Forums app

Same here. With the smm shares I think can get back a decent amount. Wonder how the prices of sci will be when it unhalts.

 

[arctician]

actually not difficult to calculate, based on the presentation NAV is $1.94 for SCI post demerger, so though global peer trading at 1x book for pure play utility but in short term you can probably apply a 30% discount so fair value to me is $1.35

Then for every 400+ shares per 100 SCI shares assume conservative estimate of $0.20 post dilution for SMM, so thats about 80c

So to me $2.15 is fair value based on my very conservative estimate, if it open below $1.80 tom i will add.

 

[Pocoyoz]

bid price
SCI 2
SCM 0.48

 

[Squaredot]

So to me $2.15 is fair value based on my very conservative estimate, if it open below $1.80 tom i will add.

$2

 

[ahboy82]

De fug...... Knn

 

[arctician]

$2

Yea no chance add liao. Even current price with smm shares very attractive. Xr maybe $1.20 for sci only vs $1.94 nav post demerger. Imagine when it reach the final day of CR

 

[Storm7979]

If we buy SCI now are we still eligible for the 400 scm shares per 100sci shares?

 

[Squaredot]

Yea no chance add liao. Even current price with smm shares very attractive. Xr maybe $1.20 for sci only vs $1.94 nav post demerger. Imagine when it reach the final day of CR

how u derive $1.20 xr

 

[Shion]

Good read

https://investmentmoats.com/stock-m...tries-sembcorp-marine-rights-issue-de-merger/

 

[Pocoyoz]

(0.525+1)/6*4.59=1.16
(1.91-1.16)/1.94=0.39 x BV nia
worth so little

dbs still say SCI ex SMM BV $3.25

 

[compro_1975]

i think show over already..... the burst din last too long...

 

[arctician]

how u derive $1.20 xr

i just assign 0.20 min floor price to SMM post rights, so 4 shares around 80c in form of special dividend. In fact now SMM is 50c in theory if buy now and price stay at this price you are getting SCI free.

(0.525+1)/6*4.59=1.16
(1.91-1.16)/1.94=0.39 x BV nia
worth so little

dbs still say SCI ex SMM BV $3.25

the presentation got calculations with or without perps, NAV of SCI is $1.94 from previous $3.4 after demerger

 

[Nyan]

bought some at 1.97.... anyone else going in?

 

[arctician]

cant imagine what will happen when its at final day of CR and SMM is at 30c-40c, by right SMM should be able floor of 20c otherwise no one will subscribe to the rights

i think SMM quite good no need rush to sell off, apparently 6mth later after temasek acquire keppel shares at $7+ and bring it over 50% there is high chance SMM may be privatized and consolidated into keppel at a premium

 

[bakuten]

if i got 10,000 shares of SCM @ $0.5 = $5,000
ex rights come....i pay another $10,000 for another 50,000 shares.
I pay $15,000 for 60,000 shares.

if i sell the 10,000 shares of SCM @ $0.5 now.
Use the $5000 plus another $10,000 hoot 7,500 shares of SCI, which also gives me about 33,000+ SCM shares.

which one more value? lol

 

[yang_nastyman]

2.2 by close?

hype will come and bring this over

 

[arctician]

Good read

https://investmentmoats.com/stock-m...tries-sembcorp-marine-rights-issue-de-merger/

it makes sense, he value by price to earning while i value by price to book, end of day consensus seem to be between $2.5-3

I think alot depends on how SMM perform, if it stay at $0.50 then 4 shares around $2, so even if SCI trades at $2.50 its still not bad

Waiting for bank analyst report before next move

 

[edwinttt1978]

Another “rights issue” to keep all busy.

 

[Nyan]

Good read

https://investmentmoats.com/stock-m...tries-sembcorp-marine-rights-issue-de-merger/

Good share.

''However, how much would the SMM share eventually trade at?

Conservatively, if the rights is priced at $0.20 then maybe that is a conservative price to assume. If you want, you can use $0.15 or $0.10.

If you own a share of SCI this would entitle you to maybe 4.27 shares of SMM:

$0.20: $0.85
$0.15: $0.64
$0.10: $0.43
This sort of bring the intrinsic value of SCI to between $2.43 to $2.85.''