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Strategies & Market Trends : Greater China Junior Stocks
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To: Julius Wong who wrote (286)9/30/2003 10:21:33 PM
From: Crossy  Read Replies (2) of 1992
 
re: Beida Jade Bird - 8095.HK

Well, it seems to be that Yahoo offers incomplete information regarding as to how many shares are out.. IF you look at the marketcap figure and shares outstanding supplied by Yahoo for ticker 8095.HK it's just 270M shares out. However that is incorrect by a wide margin because it's incomplete - it only covers the "H" shares traded in HongKong.. there are other "proprietors'" shares not yet trading anywhere (SHanghai in the future ?) and in toto there are around 1100m shares out with a marketcap of $900m HKD..

now this doesn't mean that Beida Jade has no potential. Shanghai industries' 15% stake in SMIC is worth about $750m USD in an IPO (expected for 2004H1) - I got the figure from a semi articla - making Beida Jade's 5% worth around $250M USD or $2000m HKD.. Twice the current marketcap and you would still get the company for free..

So it's still a 2-3 bagger and conditional on the SMIC IPO on the NYSE.. But no longer a 5-10 bagger - based on the original data in front of me..

I'D like to apologize for stirring the pot premature an I also would like to share my up-to-date sources for doing COMPLETE DD for HK Stocks with you - in my next post..

kudos to KelvinK from the NTLI Yahoo thread for pointing me in the right direction..

all the best
CROSSY
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