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PPGPL IPO...

this is how we do it.......

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want2liqur
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Re: PPGPL IPO...

Postby want2liqur » May 28th, 2014, 10:10 pm

sleepertercel wrote:
want2liqur wrote:
sleepertercel wrote:
want2liqur wrote:
PapaC wrote:Which company went from c- to d? PPGPL?


Yup



ammm...you an employee? or just bumping your gum?


Did you read what i posted earlier?



ohoo...you doh know $hit but you talkin out your a$$ then....gotcha


Its obvious i dont know what i'm speaking about thats why i contacted my brother who knows more than me....

Reading is fundamental, you should try it more often

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want2liqur
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Re: PPGPL IPO...

Postby want2liqur » May 28th, 2014, 10:12 pm

My question to you though @ sleepertercel.... how does this involve you that you fending for them so much?

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Re: PPGPL IPO...

Postby sleepertercel » May 28th, 2014, 11:05 pm

Because you spreading second hand bs...what's your source for your info?

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Re: PPGPL IPO...

Postby want2liqur » May 28th, 2014, 11:16 pm

sleepertercel wrote:Because you spreading second hand bs...what's your source for your info?


Im not even going through this with you because apparently you does read only what you want to read

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Re: PPGPL IPO...

Postby sleepertercel » May 28th, 2014, 11:23 pm

No really...i supposed to believe because yuh bredda say so?

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want2liqur
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Re: PPGPL IPO...

Postby want2liqur » May 28th, 2014, 11:32 pm

Noone ever said it was credible info but i just simply posted what he said due to the fact that he was in the business before and that suppose to be their job to look deeper into companies in the interest of the person wanting to purchase shares

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Re: PPGPL IPO...

Postby want2liqur » May 28th, 2014, 11:34 pm

Not sure if this may help but it might be worth a try seeing im a newbie to this

http://m.guardian.co.tt/business/2014-01-09/sp-affirms-negative-outlook-phoenix

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Re: PPGPL IPO...

Postby snatman » May 29th, 2014, 11:58 am

Worldwide, energy companies' annual earnings are famously inconsistent.

Unless this is priced at a steep discount, I wouldn't expect the kind of price appreciation that the FCB stock experienced.

Waiting patiently for info on expected f/wd PE ratio

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Re: PPGPL IPO...

Postby kaylex » June 3rd, 2014, 8:15 am

A phoenix rises

75M Phoenix Park shares on offer

By Asha Javeed

Story Updated: May 27, 2014 at 10:01 PM ECT )

There were several lessons to learn from the First Citizens Initial Public Offering (IPO) – there’s an investor hungry public, the need for good corporate governance and that there are loopholes in the country’s financial regulations which can be exploited.

Several people have paid the price for that lesson:

1.Former chief risk officer Philip Rahaman was fired from the bank after it was discovered that his purchase of 656,588 FIRST shares was an alleged front for his cousin, businessman Imtiaz Rahaman, his aunt Alia and several Rahaman-owned businesses.

2.Subhas Ramkhelawan, the broker for the deal through his company Bourse Securities, resigned as an Independent Senator and as chairman of the Trinidad and Tobago Stock Exchange.

3.Former chairman of First Citizens Nyree Alfonso resigned as well as director Rishi Badaaloo while two other directors Shobee Jacelon and Marlene Juman were voted out by the Corporation Sole.

Furthermore, there are still outstanding investigations by the Securities and Exchange Commission (SEC) and the Central Bank on that affair.

Out of that IPO, the sum generated of $1.046 billion was transferred to the Consolidated Fund.

But the Government is getting ready to give the IPO another go.

And has made some notable changes – the first being a cap of 5,000 shares that any employee or retiree can purchase in the employee bucket and the public is guaranteed a minimum of 1,000 shares each.

The TTNGL IPO

By July 21, it expects to offer shares of Phoenix Park Gas Processors Ltd (PPGPL) to the market through a subsidiary company of the National Gas Company (NGC) called Trinidad and Tobago NGL Ltd.

TTNGL will have two classes of shares – Class A, held by NGC of 38,700,000 and Class B shares being 116,100,000 of which 75,852,000 would be subject to the IPO.

There is a proviso that Class A shares could be later converted to Class B shares.

A fully subscribed IPO of 75,852,000 being issued at $25 a share would generate gross proceeds of $1.896 billion NGC will receive only net proceeds after the deduction of expenses and discounts for employees and retirees from the gross proceeds.

The Business Express last week obtained a Cabinet Note prepared by Minister of Finance and Economy Larry Howai on the impending IPO.

It was recommended that:

1.The Initial Public Offer would involve the sale of 65.3 per cent or 75,852,000 Class B shares of Trinidad and Tobago NGL Ltd,

2.The price of one (1) ordinary Class B share of the TTNGL would be $25.

3. The commencement date would be Monday July 21, 2014, the closing date for lodging applications would be Friday August 15, 2014 and the commencement date for trading will be September 22, 2014 and that those dates would be subject to variation by the Minister of Finance and the Economy.

4.The methodology for allocating shares from over-subscription would be in the context of the following guidelines and in descending order of priority:

a. each employee or retiree of NGC and its subsidiaries or affiliates would be given the right to buy a specified allocation up to the amount of 5,000 shares and the shares so purchased will be subject to a discount of ten per cent at offer price;

b.each employee or retiree of NGC and its subsidiaries or affiliates can purchase at the offer price any amount of shares in excess of 5,000 and those market-based purchases would compete with all purchases by the citizens of Trinidad and Tobago;

c.60 per cent of the total offer of 75,852 or 45,511,200 would represent a combined allocation for employees and retirees of NGC and its subsidiaries or affiliates and individuals who are nationals of Trinidad and Tobago; in other words, upon satisfaction of the applications by employees and retirees for discounted shares, additional requests by employees and retirees for market-based share purchases would compete with all applications from members of T&T’s public within the 60 per cent allocation bucket. Each individual other than an employee or retiree will be guaranteed up to 1,000 shares in their allocation;

d. 40 per cent of the total offer of 75,852,000 Class B shares or 30,340,000 Class B shares would be allocated in descending order of priority from:

• Mutual funds, including Unit Trust Corporation – ten per cent

•National Insurance Board (NIB)- ten per cent

•Pension Plans, Credit Unions and Cooperatives, Trust Funds, National Enterprises Limited – 15 per cent

•Other Companies- five per cent

5. Subsequent to the IPO, the NGC, the Class A shareholder, appoint three directors to the board of directors of Trinidad and Tobago NGL Ltd and that two independent directors be introduced onto the Board of Directors with nominees from the private sector: one from the Energy Chamber of Trinidad and Tobago and the other from the American Chamber of Trinidad and Tobago.

The $25 share price

At $25 a share, the market value of TTNGL which holds 39 per cent of the equity in PPGPL,

is $3.870 billion.

The market value of PPGPL at US$600 million or $3.870 billion is what NGC paid for the 39 per cent shareholding of Conoco Philips.

The $25 price assumed:

• projected lower net profit after taxes for PPGPL compared to historical results with the lower projections being primarily due to projected lower natural gas liquid content in gas-inlet streams;

•new investors in Class B shares having a non-controlling interest in TTNGL and PPGPL;

. new investors being provided with sufficient high returns to compensate for the higher risk of the energy sector compared to the other local sectors;

•Competitive pricing with other available assets on the Trinidad and Tobago Stock Exchange where the yield was approximately 4 per cent;

•affordability for individual investors.

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Re: PPGPL IPO...

Postby KM_2NR » June 3rd, 2014, 2:53 pm

TL'DR Invest or Not?

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Re: PPGPL IPO...

Postby PapaC » June 3rd, 2014, 3:30 pm

If you asking that then bettter you plant peas. And i not being sarcastic.
Is a risk you taking, hoping to get returns. If you have money to lose then go ahead. Otherwise plant your peas.

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Re: PPGPL IPO...

Postby AllTrac » June 3rd, 2014, 3:32 pm

planting peas has a good ROI tho.

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Re: PPGPL IPO...

Postby sMASH » June 3rd, 2014, 5:04 pm

PapaC wrote:If you asking that then bettter you plant peas. And i not being sarcastic.
Is a risk you taking, hoping to get returns. If you have money to lose then go ahead. Otherwise plant your peas.


Despite sounding snide, that is actually good advice.

Put u money in what u could understand,

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Re: PPGPL IPO...

Postby KM_2NR » June 3rd, 2014, 9:31 pm

PapaC wrote:If you asking that then bettter you plant peas. And i not being sarcastic.
Is a risk you taking, hoping to get returns. If you have money to lose then go ahead. Otherwise plant your peas.


Hmm I guess I have my Corpus Christi Weekend planned out. But i not hearing anything decisive about this or i guess i haven't done my research properly.

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Re: PPGPL IPO...

Postby ish » June 4th, 2014, 7:40 am

Trying to get the article online but they don't have the whole article and when i registered, still not getting entire article. Plenty info here for those who interested.
Image

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Re: PPGPL IPO...

Postby Trinbagoviews » June 11th, 2014, 3:42 pm

Putting The Phoenix Park Gas Processors Limited IPO In Perspective

Once again given the limited investment options caused by onerous, unnecessary securities regulations and the excessive liquidity in the T&T economy caused by Central Bank monetary expansion (legalized counterfeiting) everyone is clamouring for the upcoming PPGPL Initial public offering (IPO).
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Although the business model appears sound buyers should be cognisant of the potential downside risks that are not being mentioned. Prudent investors would be wise to note the following:

1. ConocoPhillips would not have disposed of a top performing asset to begin with inspite of the rationale provided for the disposal. Often times when the going gets tough energy majors bamboozle clueless governments like the T&T government to overpay for assets that they deem to have outlived their usefulness.

2. Petrochemical plants and infrastructure are normally amortized over 20 - 25 years which is consistent with their normal useful life. Coincidentally PPGPL is 25 years old; granted they would have been doing on going upgrades / maintenance, however PPGPL's infrastructure may likely need major turnarounds / maintenance soon.

3. The Phoenix Park business model is based on processing natural gas throughput therefore they are dependent on downstream gas utilization and transmittal which within the last two years have been declining and inconsistent due to the gas curtailments emanating from offshore platforms. There remains complaints by the upstreamers that T&T is no longer a cheap gas location and the economics of extracting gas and selling gas to the NGC is not as attractive as it used to be.
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4. Major natural gas utilizing projects that were on the cards namely the Ammonia Urea Melamine (AUM) II and the SINOPEC / SABIC Methanol to Olefins projects have been shelved due to lack of reliable and economical gas supply. Meanwhile other gas renewal contract negotiations remained strained as natural gas consumers believe NGC is not offering favourable enough terms.

5. There is a very high probability that when the IPO is launched it will be another feeding frenzy by the brokers, insiders and the politically connected similar to FCB debacle; as clearly no one was or will be prosecuted for the fraudulent execution of the last IPO.

6. Trading liquidity may be limited as the majority of the shares being offered are to institutional investors, pension funds, mutual funds who typically buy and hold. Consequently only a small number of shares may regularly change hands therefore selling shares on demand may not be readily available.

All that being said on its face PPGPL appears to be a good short term investment if you can get in and get out at the right time, however getting out exactly at the right time is never an easy feat especially when "information asymmetry" is very much present (i.e. the insiders would know when to get out before the average investor would).

Investors are encouraged to read the prospectus carefully and to thoroughly understand associated risks. Investors would be wise to note that past performance does not guarantee future results.

Investing some money might be an OK move but levering up and/or investing your life savings might not be prudent.

Your comments are welcomed...
Trinbagoviews

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Re: PPGPL IPO...

Postby jusjase44 » June 21st, 2014, 8:55 pm

3215 *subscribed*

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Re: PPGPL IPO...

Postby snatman » July 3rd, 2014, 12:58 pm

apparently, the IPO has been "postponed til further notice" :roll:

oh well

JMMB looking like a good buy

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Re: PPGPL IPO...

Postby PapaC » July 3rd, 2014, 12:58 pm

SOURCE?

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Re: PPGPL IPO...

Postby snatman » July 3rd, 2014, 1:04 pm

PapaC wrote:SOURCE?

my broker

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Re: PPGPL IPO...

Postby PariaMan » July 3rd, 2014, 1:40 pm

Any body else can confirm this?

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Re: PPGPL IPO...

Postby PariaMan » July 4th, 2014, 2:43 pm

Sounds like it off. Already July 4th and no word yet!

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Re: PPGPL IPO...

Postby TG7788 » July 5th, 2014, 12:49 pm

Was at Bourse Securities during the week. They still maintain a July 21st date.

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Re: PPGPL IPO...

Postby PariaMan » July 18th, 2014, 4:04 pm

Well it looks like it off.

I believe that they had said if they cold not meet July 21 date then it would be October!

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Re: PPGPL IPO...

Postby jusjase44 » July 18th, 2014, 4:57 pm

yup its the 18th and no word

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Re: PPGPL IPO...

Postby pugboy » July 18th, 2014, 5:33 pm

seeteram issue must have thrown a spanner in the thing

ngc was getting a "preferred block"

a couple "brokers" already called me saying they can sell me at that pricing

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Re: PPGPL IPO...

Postby jusjase44 » July 18th, 2014, 5:39 pm

huh they can sell you????

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Re: PPGPL IPO...

Postby jusjase44 » July 18th, 2014, 5:46 pm

you work ngc????????

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Re: PPGPL IPO...

Postby pugboy » July 18th, 2014, 6:54 pm

No connection to anything,
But ngc is a major shareholder of ppgl so they are like employees and get preferential pricing
Ngc people probably have blocks allocated already and looking to subdivide to they people

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Re: PPGPL IPO...

Postby DVSTT » August 6th, 2014, 7:23 am

pugboy wrote:No connection to anything,
But ngc is a major shareholder of ppgl so they are like employees and get preferential pricing
Ngc people probably have blocks allocated already and looking to subdivide to they people


When have they rescheduled this IPO for?

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