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Concentration warning in Sinogreen (1159)
SFC, 11-Nov-2014
Webb-site analysis: Sinogreen had net assets at 30-Jun-2014 of $24.1m and raised $164.4m from the issue of shares and convertible bonds to a Macau junket operator on 19-Sep-2014, with an issue and conversion price of $0.35. Upon full conversion, there will be 652,564,800 shares in issue, with a pro forma net asset value of $0.29 per share. The shares trade at $13.00, or about 45 times NAV.
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