Diary Post - Rowsley 24/12/2012

On Saturday, I read about Rowsley and its relationship with Peter Lim.

This is the news :

Rowsley, an investment holding company controlled by billionaire Peter Lim, RSP Architects Planners & Engineers and Vantage Bay, a developer of a mixed-used project in Malaysia's Iskandar region, have teamed up in a $581 million deal that will transform Rowsley into a real estate player.

The all-share deal, when finalised, will see the 56-year old architect firm headed by prominent architect and businessman Albert Hong listed on the SGX through Rowsley. It will be one of only two building design and engineering practices that will be listed on the SGX.

Rowsley will acquire RSP from Dr Hong and four of his partners for up to $223 million, to be paid by the issue of Rowsley shares at 15 cents a share. At the same time, Rowsley has also entered into another term sheet with Vantage Bay to buy 9.23 ha of land at Iskandar for $358 million.

If the deals go through, Rowsley will reward existing shareholders with a free bonus issue of two warrants for every one existing share, each warrant with an exercise price of 18 cents a share.

1 Year chart

Rowsley 5 year chart.

I didn't read the news in details. There is only thing that come into my mind after I read the article, this stock is gonna fly next Monday, be it fiscal cliff is solved or not.

I was telling Wang over dinner about it on Saturday and potentially, a good entry will be below 20 cents, 0.195 - 0.199.

Today it opened at 0.193, it closes at 0.143 last Friday.

I was very upset because I missed it twice, (i really need to get my trading account up faster). One in the opening hours and probably 2 times after it starts trading.