There is a $450 million CB at 0.95 to be issue tomorrow. That means there is a likelihood of profit taking tomorrow onwards instead of price going up. If you want to buy, do play safe ie to buy at 1.07/1.08 level and get out of position when it reaches 1.20 level. Heavy resistance between the levels of 1.22 to 1.29. Better still if you can buy at 0.95 level. Please do not chase the price especially during the bear period.
Insider news? How is it possible that someone knows of a Convertible Bond issue before the news is out on SGXNet? And wow you even know the exercise price is S$0.95 for this CB.....
Anyone knows why Genting is not open for trading this morning/today? Avoid from profit taking or awaiting the right time to announce its opening to the public like a quiet Tiger?
Equity Preview(SG): Genting (G13:xses) in spotlight today after announcement over the weekend that they have been granted gaming (casino) licence. Note: S$450 million worth of CB issue will be converted 9th Feb tomorrow at a price of 0.95. I post you decide
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