Could it be that first big boys are already on the move?
Someone was buying heavily in July and price more than doubled to 11 cents at highest point. Within very short time. Then they stopped and perhaps even sold a little to bring the price bit down. Was last Friday the start of the next round of purchases? Still less than 1 million shares a day, not like what we saw in the July round. I remember glancing some investor letter from a fund manager recently (was it Lumiere? anyone knows?) where I saw a new position in StarPharma X64 recently initiated, not yet considerable but it is still early days...
But it is so small, if management owned shares excluded, and price all other shares at 10 cents, it takes just 11.2 m SG dollars to buy all the rest up and delist. Plus their former IR manager still seems to keep some shares (430,000?) that my calculation does not count. And there surely are some other longtermers too.
Starpharm has not raised another single cent post IPO [except a RMB60m convertible bond which it has fully redeemed in 2010] since 2006. That also implies the current biz [R&D, manufacturing, marketing & distribution of drugs in china] does not need fund and therefore it needs not be listed at all.....so it could point to privatisation! Or alternatively, it may be somethg big [those cancer treatmetn drugs and Cat 1 drugs] as keep it afloat in SGX takes a lot of cash.
Higher bid volume for this turn-around counter today.
This low-key chinese pharmaceutical attracts attention when the share price drops. Appears those who know, are waiting on the sideline for good opportunity to jump into this ship.
There is not much news released on this company, and corporate activities appear limited.
Could there be any corporate transaction or earning surprises soon?
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