Gushan Insiders Already Cashing Out
Gushan Environmental Energy Limited (NYSE: GU) has filed to sell up to $100 million in ordinary shares, which it notes as having a HK$0.0001 par value (HONG KONG). This notes that selling shareholders are selling ADS's, with each share representing 2 ordinary shares.
This is an unspecified number of shares but based upon a closing price of $11.78 (-6.5% today) of nearly 8.5 million shares. Gushan will not receive any of the proceeds from this offering.
The underwriting group here is rather large for a $100 million secondary offering. Merrill Lynch is the lead underwriter; co-managers are listed as Oppenheimer, Piper Jaffray, and as Ardour Capital Investments.
Gushan is supposed to be the largest biodiesel producer in China as measured by annual production capacity with a target of annual production capacity to 400,000 tons by the end of 2008.
Shares are down 0.5% at $11.72 in after-hours trading and the market cap as of the close was $982 million. Gushan has only been public since December 2007 and it traded under $10.00 at the open. Its post-IPO trading range since the IPO has been $7.00 to $17.95.
Gushan Environmental Energy Limited (NYSE: GU) has filed to sell up to $100 million in ordinary shares, which it notes as having a HK$0.0001 par value (HONG KONG). This notes that selling shareholders are selling ADS's, with each share representing 2 ordinary shares.
This is an unspecified number of shares but based upon a closing price of $11.78 (-6.5% today) of nearly 8.5 million shares. Gushan will not receive any of the proceeds from this offering.
The underwriting group here is rather large for a $100 million secondary offering. Merrill Lynch is the lead underwriter; co-managers are listed as Oppenheimer, Piper Jaffray, and as Ardour Capital Investments.
Gushan is supposed to be the largest biodiesel producer in China as measured by annual production capacity with a target of annual production capacity to 400,000 tons by the end of 2008.
Shares are down 0.5% at $11.72 in after-hours trading and the market cap as of the close was $982 million. Gushan has only been public since December 2007 and it traded under $10.00 at the open. Its post-IPO trading range since the IPO has been $7.00 to $17.95.
2 commentaires:
J'ai aussi cashé...
Bravo...
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