A super rocket this one. Market cap now SGD1.3 BILLION, but only $100 million in July 2015. What happened?? Now announced placement of new shares to raise about S$250 MILLION @ 35 cents a shr.
Three HK-incorporated Subscribers were introduced to the Company through mutual business associates and the Company’s management. The Company has decided to place the Subscription Shares to the Subscribers so as to meet the Company’s funding needs.
Injection of s$247 m into the company is completed now. share price 28.5 cents, Market cap about $1.2 billion SGD on enlarged share capital of 4.23 B shares (after rights issue).
CEFC's trailing PE is nearly 100X. This means the earnings have yet to turn in for the new businesses and the market price has already priced in some major earnings in the near future. I would be wary.
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