Eurasian Share Discussion Threads

[datait] 09/5/2013 12:29

lol here we go

[careful] 09/5/2013 10:35

conference call transcript indicates a far more transparent and open management to me.
It would not bother me if this opportunistic takeover goes away.
this is a great long term investment.

if they do walk away and the share price falls back i will be buying.
what an unusual situation.
hoping that a takeover bid fails.

[datait] 09/5/2013 07:14

I can see this crashing when the market opens

[tony150] 08/5/2013 19:29

However, looking at a longer time horizon it looks like it still needs to test the 330-ish resistance in order to confirm a solid trend reversal

[tony150] 08/5/2013 14:48

Looks like it bvroewkn out and on the way up..

[and1] 07/5/2013 21:52

3.75 is sure, Kazakhmys wont accept less. They want 5.40 but Kazakh govt wants lower price to take over their share. The loan for the free float is not a problem, Russian banks are lining up for this one. Kerimov is a red herring, just an opportunist in the know, with cash. I suspect 4.50 will be the compromise.

[careful] 07/5/2013 16:03

We shall have a clearer picture over the next few days, maybe this week at the time of the production report.

[tanzz786] 07/5/2013 15:46

If you look at Kerimov's history you will see that his fortune was built on starting with very small stakes (if any stake at all) and taking control with debt from the very same banks that now "own" ENRC - the struggle here is between the Russian Oligarchs and the Kazakh Billionaires.

Remember £5.40 was the IPO price and the break up value today is north of £10/share...

[racg] 07/5/2013 15:45

I will veto any attempt to buyout enrc by kaz by voting my shares against!


Ok, not an oligarch this lifetime but hope kaz does not bid, hope
Some other entity does.

[pollen8] 07/5/2013 15:39

you have to start somewhere. Yes tanzz786 the fun begins, hopefully back to 500p.

[careful] 07/5/2013 15:29

hard to see how anyone with only 3% can takeover a company in competition with the kazakhstan government and oligarchs with a larger stake.

[tanzz786] 07/5/2013 15:17

Suleiman Kerimov may be putting together a rival bid - he now owns more than 3% of ordinary shares and also has major stakesin the banks that have lent money to ENRC - KAZ plus Kerimov could be the rival bidder - watch this space - the fun begins now

[careful] 07/5/2013 09:45

I am beginning to think the offer could be around 400p.
at first 300p was my guess.
but the surge over the last 2 days must be driven by insiders.
so many people need to know before an offer is made.
it always leaks.

[dr biotech] 06/5/2013 07:36

It's in the Sunday times

[careful] 05/5/2013 17:05

just read that Russian banks are to finance the takeover deal for ENRC.
It is beginning to look like this will go ahead, and i would guess at a decent premium.

with davis, former xstrata boss, hiring goldman to raise funds for the purchase of mining assets, the days of bombed out mining stocks being valued at well below asset value could be ending.

[durby] 04/5/2013 19:47

It is 375p (written in black and white in the latest Kazakhmys annual report published last month).

[racg] 01/5/2013 20:30

so I think the carrying value is 3.75 not 3.25 not sure though.

[racg] 01/5/2013 20:29

Kazakhmys said in Tuesday's statement that the carrying value of its holding in ENRC more than halved, reducing it to little more than $2 billion, or roughly 375 pence a share. ENRC shares closed on Monday at little more than 268 pence.

The value of the 26 percent ENRC stake dropped to $1.55 billion at the end of 2012 from $3.29 billion at the end of 2011. Shares ticked higher at the start of 2013 but are now back to late 2012 levels - their lowest since the worst of the global financial crisis.

Kazakhmys - the single largest investor in ENRC - had said it would write down the value of the holding to close to the market value.

[mr jam] 01/5/2013 20:08

kaz has it valued at 3.25. they have a vested interest to make sure that their name is not sullied, as does the govt.... 3.25 min, poss 3.35 just to look good

[careful] 01/5/2013 19:22

Thinking about the options to be resolved over the next few days.

1. they can walk away altogether.
2. they can make a decent offer of over 300p.
3. they can steal it for about 250p.

my guess, and that is all it is, is that they will offer just over 300p.

[hvs] 01/5/2013 17:06

There seems to be a NASTY SMELL ABOUT .

Is it cabbage ?