The strong support is now pegged at 0.61.
My own calculation of the TP is at 1.25 (there will be dips before reaching it).
Yesterday run up and breaking the resistance at 0.76 easily signified a bullish move...more positive price
action is expected from now.It is now in the impulsive bullish wave3.
This bullish move was confirmed with the latest news...the private placement of 6.2% to an *investor*.
1)The Placement Shares are not priced at more than 10% discount to the
weighted average market price (“WAMP”) of SHB Shares for the 5 market
days immediately before the Price-Fixing Date;
2)The Proposed Private Placement, which is expected to be completed before the end of the 3rd quarter of 2014.
*My 2c opinion is that prices will go up before the announcement of the Price-Fixing Date evidently by the way that the shares are being sapu in the open market.*
(I am bullish on this stock...my2c opinion....trade at your own risks.)
THE NEWS:
SILK HOLDINGS BERHAD (5078, SILKHLD)
DateMay 09 2014
TypeGeneral Announcement
Ref No.MI-140509-68643
| Type |
:
| Announcement |
| Subject |
:
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NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS)
FUND RAISING |
|
|
| Description |
:
|
SILK HOLDINGS BERHAD (“SHB” OR “COMPANY”)
PROPOSED PRIVATE PLACEMENT OF UP TO 30,000,000 NEW ORDINARY SHARES OF
RM0.25 EACH IN SHB (“PLACEMENT SHARE(S)”), REPRESENTING UP TO
APPROXIMATELY 6.2% OF THE ISSUED AND PAID-UP SHARE CAPITAL OF SHB
(“PROPOSED PRIVATE PLACEMENT”) |
|
| |
|
|
Announcement Details/Table Section :
On
behalf of the Board of Directors of SHB, AFFIN Investment Bank Berhad
wishes to announce that the Company proposes to undertake a private
placement of up to 30,000,000 new ordinary shares of RM0.25 each in SHB representing up to approximately 6.2% of the issued and paid-up share capital of SHB.
Kindly refer to the attachment for further details on the above Proposed Private Placement.
This announcement is dated 9 May 2014. |
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