Looks like most of us are wrong so far . About 20 minutes after opening I see the price is $1.39. Not much of an increase and I don't see it rocketing up much from there. I haven't checked volumes or anything else yet. _________________ UAE IPO list | posting guidelines
SW, How are you monitoring the data. I tried to access the ww.difx.ae market data but does not work.
DIFX ticker - I set it up earlier today so I don't have any idea how reliable it is. It's been throwing out a few errors.
Could be the DIFX website is overloaded today - I tried accessing it an hour ago and it took an age to load.
I have Mubasher also, which I'll fire up now (it's heavy on memory and CPU so I don't normally leave it running). They have DIFX data. _________________ UAE IPO list | posting guidelines
Here's a snapshot of Dubai Ports World (DPW) trading for the first half hour or so from MubasherTrade (don't forget prices are in US$). There's no easy way to link to this as a live display sorry .
I'll post a couple more during the day if/when there are significant changes.
Well its quite funny if you look at the DIFX equities index. All the other listings are more or less inactive, but DPW has a volume of around 254,000,000+
Anyways, bought a handful of shares for 1.42, and then an hour later it plummeted to 1.36. Nonetheless its positive news for DIFX on the whole - would be interesting to see the volume at the end of today.
I think DFM and ADSM market's big fishes are impacting this share a lot.
Share value didn't performed as expected.
I will wait for another 2 days for any further comments.
Based on today's trading activity, I don't see it getting up to $2 anytime soon. Maybe as year end results approach, if they're better than expected. _________________ UAE IPO list | posting guidelines
Last edited by sharewadi on Tue 27 Nov 2007 13:09; edited 1 time in total
Update at 5pm. DPW shares closed at $1.36, up 4.6% for the day, and below almost all our estimates
Trading volume 303m shares
Traded value (turnover) $420 million (AED 1.54 billion). That should make a headline tomorrow, more than the increase in share price, which was modest, at best.
Update at 5pm. DPW shares closed at $1.36, up 4.6% for the day, and below almost all our estimates
A very bitter disappointment ...
All that effort ... running around to open bank accounts & trading accounts & then lodging the application ... and a measly 5% return at the end of the day.
The problem here lies with DP World who, through the book-building exercise, have removed all value from the share ... basically extracting as much from the poor punters as they could.
Quite. It doesn't appear to be the raging success many were hoping for. However, for the DIFX at least, it could be judged successful considering there was probably more trading volume in one day than they've seen in total up to yesterday.
rekhatdg wrote:
can any body tell me m9 result of DPW and P/E
I don't think they've been released yet. I just looked again at the DIFX site and they only have H1 results.
Maybe when the M9 results are released, they will be good enough to provide a bit more impetus to DP World (DPW) shares.
A real "egg on the face" situation for the people in-charge of pricing the IPO.
Gotta admit, they didn't get the pricing right - but nonetheless its just been 2 days of trading. I reckon there are a lot of people who are sour, especially the ones expecting to book profits of 400-600% - but optimistically speaking, I'm hoping DPW at least goes past USD 2 before the end of the year, with Q3 results.
LostInDP wrote:
will there be any transactions in DPW after few days?
Remove DPW from the DIFX equation, and you have a dead-man zone. With volumes more than 500,000,000 in the past 2 days, I guess thats testament enough that DPW would be driving volumes in the coming months.
All in all, negative sentiment isn't gonna do much especially if you are holding DPW shares - give it some time.
DP World IPO: To Bid Or Not To Bid?
Posted: 12-Nov-2007
IT is now time for all fund managers in the Middle East to evaluate the DP World IPO, the largest new issue to come out of the GCC since the flotation of Saudi Telecom five years ago. Yet the dilemma to bid or not to bid, to paraphrase Macbeth, has little to do with the status of the world’s fourth largest container port operator and everything to do with its valuation metrics.
Khaleej Times 12 November 2007:
After all, DP World is offering only 20 per cent of the company to public shareholders, so it makes no sense at all to price the IPO at the high end of the range and see it fall in the aftermarket after an initial IPO pop, as happened with Prince Al Waleed’s Kingdom Hotels Holdings. This is all the more true since DP World is not a dual London GDR listing. I am also a seller of the PCFZ Sukuk at 117 at it clearly makes no rational sense to own it above its conversion price. The credibility of the DIFX as an international exchange and the fate of a potential Nakheel IPO depend on DP World IPO being a spectacular success. If this necessitates that the IPO is priced for 20 per cent immediate upside for shareholders, why not? So my ideal trading range for DP World is to buy at 1/1.05 and sell at 1.25/30. Remember, do not confuse the allure of a company with its stock price, just as it is invariably fatal to confuse genius with a bull market. Beauty, like reality, lies in the eyes of the beholder but value lies in the subliminal unconscious of the fund manager.
Remove DPW from the DIFX equation, and you have a dead-man zone. With volumes more than 500,000,000 in the past 2 days, I guess thats testament enough that DPW would be driving volumes in the coming months.
Thats what is scarry, hope DPW will not be a dead man for volumes...
hope for the best sorry good or alteast not worst..
Remove DPW from the DIFX equation, and you have a dead-man zone. With volumes more than 500,000,000 in the past 2 days, I guess thats testament enough that DPW would be driving volumes in the coming months.
All in all, negative sentiment isn't gonna do much especially if you are holding DPW shares - give it some time.
WELCOME TO DEAD MAN ZONE......................
NO TRANSACTIONS NO VOLUMES..................
Did you notice the frentic buying at around 16:40? Up until that point I thought DPW would close below 1.29 - but some massive buys averaging 500,000+ around that time, pushed it to 1.30 and then profit taking ensured a 1.29 close.
As long as a healthy volume is sustained, there is a glimmer of hope that Q3 results (if healthy) may give it a positive boost.
Btw, with the revaluation of the dirham looming this coming Sunday, I aint sure how it would affect DPW. Any takes?
Btw, with the revaluation of the dirham looming this coming Sunday, I aint sure how it would affect DPW. Any takes?
I guess it depends on the ratio of international versus UAE based demand. Perhaps that's why price has fallen somewhat - UAE dirhams are waiting till after Sunday to buy cheaper $ stocks if dirham is revalued...
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. About 20 minutes after opening I see the price is $1.39. Not much of an increase and I don't see it rocketing up much from there. I haven't checked volumes or anything else yet.
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