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BYD Company Ltd. Message Board

  • p2panama p2panama Sep 22, 2009 10:44 AM Flag

    Anyone interested in GELYF as well?

    http://www.bloomberg.com/apps/news?pid=20601080&sid=a1aBjack1CbY

    Saw on the news wire yesterday that a Goldman Fund invested $250,000,000 in Chinese car maker Geely. Unlike BYD, Geely is trding at $.29 cents per share today, up 9%.

    Thoughts?

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    • Please check your account statement. On foreign trade you will pay a tranfer fee of minimum of $100 and as much as $200. Regular stocks are $8.95. I am moving some money to scottrade.

    • Just went to MY schwab 1 account. put trade in for gelyf - Schwab says order cannot be placed online. must call 800-435-9050 . also same with DNFGF. They told me their charge is $100 if the can get it over the counter . That charge is each way and if the place thru foreign exchange cost is their $100 plus foreign exchange $100 plus minimum of $5000 per trade. Just got off the phone with them. Regular commission is 8.95 added to all that. Check your statement and you will see and additional charge of $100. If not give me the number of your schwab brokerage because I would like to correct the problem. I am getting ready to open an account with another broker that does not charge premium.

    • CBAK. AONE is coming out tomorrow & CBAK could profit from it. It appears they share contracts.

    • Not all analysts who follow Geely were optimistic about the deal.

      "It looks like the conditions are not very favorable for Geely," said Vivien Chan, an analyst at Sinopac Securities Corporation, citing the 3% interest rate on the bonds and the commission price's low premium. "We need to know what kind of acquisition [it will make] and how the acquisition is going to help their earnings."

      In May, Geely raised 750 million Hong Kong dollars ($96.2 million), which it used both as working capital and to acquire Australian automatic transmission supplier Drivetrain Systems International (DSI) and its assets.
      Investors seemed confident that the deal was a smart strategic move. In midday trading, shares were at 2.13 Hong Kong dollars (27 cents), up 17.9%. Geely's shares were suspended on Sept. 16 and resumed trading Wednesday morning.

      Analysts said they thought the deal had little to do with potential bids for foreign auto makers. Instead, they said, Geely's focus is to increase capacity and market the models it currently makes to buyers beyond its domestic market. Geely has announced a goal of selling 250,000 units in 2009, up 22% from total sales in 2008. In the first seven months of 2009, according to a company presentation, Geely reached 65% of its full-year target.

      "The management is planning to expand its distribution channel to foreign countries," said Richard Li, research director at Celestial Asia Securities Holdings. "This deal can provide this company enough funds so that the cash flow will be upgraded in the long term."

      An analysis of sales for the first six months of this year showed that exports accounted for just 5% of Geely's total sales, compared with close to 20% in 2008.

      Investors seemed confident that the deal was a smart strategic move. In midday trading, shares were at 2.13 Hong Kong dollars (27 cents), up 17.9%. Geely's shares were suspended on Sept. 16 and resumed trading Wednesday morning.

      In the deal, Goldman can covert its bonds into 998.4 million Geely shares priced at 1.90 Hong King dollars each (24 cents), a price that was 6.1% above the closing price of Geely shares on its last trading days. The bonds come due in 2014.

      If Goldman were to convert the bonds into shares, it would amount to a 12.1% stake China's 10th-largest carmaker. A Chinese agency issued a report this month forecasting that Chinese demand for cars was not only robust today, but was on the rise. Hyundai, Toyota ( TM - news - people ), Honda ( HMC - news - people ) and Volkswagen ( VLKAF.PK - news - people ) all saw strong growth from their joint ventures in China. In fact, China's Association of Automobile Manufacturers estimated that domestic auto sales could exceed 10 million units in the first 10 months of this year.

      The Goldman affiliate, GS Capital Partners GI Fund, L.P., a limited partnership established in Delaware, will also receive 299.5 million warrants at an exercise price of 2.30 Hong Kong dollars (29 cents) per share, which can be converted into 229.5 million shares.

    • Where do you watch HK ticker and your thoughts on A1 ipo a1123 around 13.00 soon -IPO on electric batteries/cars in us - Cramer recommended- what impact on BYD. also where can I verify Goldman Sachs purchase of dnfgf.
      I will google. DNGFG now $1.3 on google and gelyf = 30 cents in fidelity today 9/23/09 at 1:41 estime.

    • I have invested in both companies and they have both performed very well over the past year.

 
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