Wednesday, 10 October 2007
China Oilfield Technology
(The IPO is one of the biggest i have seen in recent times, spanning a wide area with 'hotly' dressed ladies distributing prospectus at Raffles Place)...
China Oilfield Technology Services Group Limited is a major "one-stop" customised solutions provider of integrated tertiary oil recovery equipment and product in the Daqing oilfield region of the PRC. Its closest competitor that is listed here is Sky Petrol.
I will give 3 chillis rating to China Oilfield for the following reasons:
1. HL bank is a reputable manager. All its previous mandates has done pretty well post listing and i believe this will be no exception.
2. It is in the oil and gas sector and with oil prices hovering a record prices, this sector is still sizzling hot.
3. It is another "China" story. We cannot seem to get enough of Chinese stocks do we?
I will not attempt to give it a fair value, just HOOT at the ATM and see if your lucky stars shine on you... Good Luck!