West China Cement – Heading East
After recent rumours that West China Cement [WCC] might be seeking a full listing on the London stock exchange, it seems they have decided instead to list it’s shares in Hong Kong and will review its AIM listing.
According to chairman Robbe Robertson (I thought he was guitarist with the now defunct ‘The Band’ – that brings back good memories.) West China Cement, based in China’s Shaanxi province, will be ‘better positioned and understood’ in Hong Kong than on the AIM.
Floated on AIM at 105p in back in 2006, WCC have done well, aside from a massive share price fall from 250p to 48p, due to problems with flooding. With the all encompassing recession the price is now 476.50, at close on Friday.
As a virgin shareholder in WCC, (bought in July at 143.00p, then sold for a virgin profit in Aug before buying back in on falls in Sept) what does this relisting mean for us?
If you have any thoughts on this let me know.
Virgin
Yes, pleased to say I also took a punt on these back in September.
I know the mid West of China is booming on construction and infrastructure so things should hold up well for these guys.
But one thing worries me is they say that there recent activities to list on HK
( redeeming warrants ) will give them a $ 30 million hit for ‘09.
Any experts out there on how this warrant activity might play out ?
Thanks
I have been in WCC for quite a while. Great company and very well postioned.
I am no expert but I reckon just sit tight and wait. Don’t know much about redeeming warrents.
Pete