Morning all.

time for another one of Soul Traders' inflammatory threads!!

Shares Mag mentioned Shandong Haike chemical group last week, as being a Chinese company about to be launched on AIM. I have just spoken to the brokers and have confirmed that the admission date will be 14th Feb. The EPIC will be HAIK as posted above.

Shares says the company is likely to be on a forward PE for 2008 of 2.4 (for net profits of $30 mil, and a market cap at float of $80 mil). That kind of figures could put Haike in the same league as Renesola in terms of SP growth.

I was wondering if anybody else has heard of Haike and whether they have any info.

I have requested a pdf copy of the AIM admission document and am expecting to get this on Friday when it is released.

EDIT: no sign of the admission document yet, but here's something by Investegate to whet the appetite (posted on the other side by OliverCromwell):

LINK


Over to you!

PDYOR, etc.

Posted by Smiler:


By Amie Ferris-Rotman

LONDON (Reuters) - Chinese petrochemical and specialty chemical company Haike Chemical Group said on Thursday it intends to list on AIM this month to raise $20 million (10 million pounds) to expand capacity.

Haike, whose products range from gasoline to pesticides, will only sell new shares as part of its initial public offering and hopes to have a market capitalisation of $60 million, a company spokeswoman told Reuters.

Haike, based near the Yellow River Delta on China's Eastern coast and near the country's second largest oil field, Shengli, plans to raise capacity at existing refineries and will also consider domestic acquisitions such as refineries, she said.


It hopes to increase annual crude oil production by 800,000 metric tonnes to 1.8 million tonnes by 2008.

By 2009, Haike aims to double production of isopropyl alcohol, a chemical compound commonly used as a cleaner or steriliser, taking annual output to 60,000 metric tonnes.

Chinese chemical float for AIM
Petrochemical and speciality chemical concern HaiKe Chemical Group plans to raise 10 million through Hanson Westhouse.

Founded as a state enterprise in 1988, Shandong-based HaiKe, which made around 4 million pre-tax in 2005 on 100 million sales, produces petrol and diesel through its refineries, as well as derivatives. The float would put a value of 30 million on the company, which produces speciality chemicals for use in medicines, pesticides, food and electronics, together with caustic soda and a range of biochemical products that are exported to the Americas and Europe.

With an annual oil refining capacity of 7.54 million barrels and the capacity to produce 100,000 tonnes a year of speciality chemicals and biochemicals, HaiKe claims its market is shielded by several barriers to competitive entry, namely skills, regulation and long-term customer relationships. Executive chairman Xiaohong Yang, 41, and chief executive officer Zaizhong Zhang, 40, want to use a good portion of the float proceeds used to install heavy oil catalytic cracking equipment.

So if we assume they made 3 million after tax, that would mean the co is valued at flotation at 10 times earnings. Shares Mag thinks HaiKe is on course to make $8.6 mil post-tax for 2006 (results due soon??), which is 4.3 mil and would put the co on a current PE of 7.

Well, it certainly tickles my financial fancy.

Excellent posts, Smiler, thanks very much!


Note: Shares mag says the market cap at flotation will be $80 mil, all the other sources say $60 mil. Apologies for any confusion, but until the actual admission it's a bit difficult to know for sure.

One to watch !! best of luck ST

Thanks, mate. I shall definitely being giving the IPO doc some close attention.

I shall watch and wait with interest--looks tempting.

MP, good to see you on here :o) Yes, this one is tempting me like a tempting thing. Has to be worth a punt, but I'd like to see the paperwork before I risk my cash. Might get in for a small punt at launch and then wait for those 2006 results.

ST, go down two companys and you will see Hakie !!

http://www.daytimenews.com/feeds/4327.html

That's a decent article, Smiler, thanks! The good thing about HaiKe is that it has a low degree of product risk, so I can't see them failing due to lack of demand for their output.

Thanks smiler-I also liked the look of HEGY nicely up and fits the green band wagon. No funds at the moment but on my list.

I Know what you mean, I might sell a few of my non movers to see what happens with this one :)

http://www.g-boc.com/vbt/e/search/shan/project.php?NO=14544&P_NO=1&VBT_NO=1971&from=&zone=&keyword=

of Interest

http://www.slof.com/sl_english/slsh.htm

Two more excellent articles, Smiler. Thanks!

No problem, I Dont mind digging around for company info ( its that or CBEEBIES) !!!! : (

LOL! Well, I'd hate to think you were getting bored . . . .

No chance of that with a 4 year old and No 2 Due in 5 weeks, Glad I work Shifts !! Also Barclays said the 28th for Haike to start Trading on AIM ?

Curious, I thought it would be trading on the 14th.

Hopefully the IPO doc will confirm. Will let you know when I've had a squint.

thanks ST.

ST, Barclays have just changed the date to the 14 Feb 07 on there IPO Details ! :)

:o)

Thanks for that update, Smiler.

No sign of my IPO doc yet! Will have to call Hanson Westhouse again on Monday and remind them politely!

Update - the broker has written back after all, but is unable to send me the doc. This will be available when the co floats on 14th Feb.

However, they have confirmed the share issue price, which will be 79.8p.

So the question is, will it drop from day one or reach the dizzy heights of SOLA?
Regardless of the company stats, if the take up is good then the sp should presumably rise in the short term.

That's what we're hoping for Harry.

IPO tomorrow!

Bit of a scary couple of days for SOLA, so lets hope HAIK can boost the bank balance.
Presumably these will start trading from the opening bell & be available to private investors or is it corporate investors only to start with?

Harry, I am not certain, as I have never thought about it like that before, but would have thought it would be a free-for-all once the float goes ahead.

We'll know tomorrow.

soul* .... LSE site has nothing; IG has nothing ...... what is market cap and who is nomad for starters?

IPO Details
Issue Date 14-Feb-2007 Prospectus n/a
Issue Price $0.80 Lead Broker Hanson Westhouse
Market Cap $30.61m Contact Tel 020 7601 6100
Method Placing
Sector Chemicals
Market Aim
Amount Raised $10.12m COMPANY NAME:
HaiKe Chemical Group Ltd.
COMPANY ADDRESS:
Offshore Incorporations (Cayman) Limited, Scotia Centre, 4th Floor, P.O. Box 2804, George Town, Grand Cayman,
Cayman Islands
COMPANY POSTCODE:
NA
COUNTRY OF INCORPORATION:
Cayman Islands
COMPANY BUSINESS OR, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTMENT STRATEGY TO BE DISCLOSED IN
ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (J) OF THE AIM RULES:
HaiKe Chemical Group Limited is a petrochemical and speciality chemical group operating in China
DETAILS OF SECURITIES TO BE ADMITTED (i.e. where known, number of shares, nominal value and issue price to which
it seeks admission and the number and type to be held as treasury shares):
To be confirmed
CAPITAL TO BE RAISED ON ADMISSION:
To be confirmed
FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS:
Mr. Xiaohong Yang, Executive Chairman

Mr. Zaizhong Zhang, Chief Executive Officer

Mr. Johnson Lau, Chief Financial Officer

Professor Chunming Xu, Non-Executive Director

Mr. Eugene Wong, Non-Executive Director

Mr. Derek Marsh, Non-Executive Director
PERSON(S) INTERESTED IN 3% OR MORE OF THE ISSUER'S CAPITAL, EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL
BEFORE AND AFTER ADMISSION:
BEFORE ADMISSIONName Percentage of Issued

Share Capital



HiTech Chemical Investment Limited 76.73%

Mr Junping Bai 21.31%


NAMES AND ADDRESSES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM RULES:
NA
ANTICIPATED ACCOUNTING REFERENCE DATE:
December 31
EXPECTED ADMISSION DATE:
Mid February
NAME AND ADDRESS OF NOMINATED ADVISER:
Hanson Westhouse Limited, One Angel Court, London EC2R 7HJ
NAME AND ADDRESS OF BROKER:
Hanson Westhouse Limited, One Angel Court, London EC2R 7HJ
DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A STATEMENT
THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES:
The admission document will contain full details regarding the applicant and the admission of its securities to
AIM and will be available from Hanson Westhouse Limited, One Angel Court, London, EC2R 7HJ
DATE OF NOTIFICATION:
31 January 2007

thanks smiler ..... would have been happier if mkt cap was rather than $ (or is that a misprint?) ..... not at all happy that there is no prospectus either and reg is Caymans! ..... hope LSE has done proper homework as on the face of it, all very flaky.

soul* .... according to the above, notional opening price should be closer toi 40p than 80p - i.e. $0.80 / 1.95

01/02/2007
Petrochemical and speciality chemical concern HaiKe Chemical Group plans to raise 10 million through Hanson Westhouse.

Founded as a state enterprise in 1988, Shandong-based HaiKe, which made around 4 million pre-tax in 2005 on 100 million sales, produces petrol and diesel through its refineries, as well as derivatives. The float would put a value of 30 million on the company, which produces speciality chemicals for use in medicines, pesticides, food and electronics, together with caustic soda and a range of biochemical products that are exported to the Americas and Europe.

With an annual oil refining capacity of 7.54 million barrels and the capacity to produce 100,000 tonnes a year of speciality chemicals and biochemicals, HaiKe claims its market is shielded by several barriers to competitive entry, namely skills, regulation and long-term customer relationships. Executive chairman Xiaohong Yang, 41, and chief executive officer Zaizhong Zhang, 40, want to use a good portion of the float proceeds used to install heavy oil catalytic cracking equipment.

It could have speculative appeal.

I am going to treat this the same way as I treat SOLA.
The fundamentals don't really make much difference here yet, imo, as we have established that the valuation may well be based on unreliable figures.
I for one will be happy to watch this & keep locking in any profit as the bounces happen.

4% before tax is nothing to boats about let lone write home about, and that is presumably based on the (in)famous Chinese accounting standards.

only arguably good point is that nomad is Hanson Westhouse also sponsored SOLA ... which incidentally, has recovered very smartly from this morning's sell-off

because i am a greedy bastard (like the rest of you!), i too may buy a smallish number and hope i have the sense to lock in some profit if they rocket on Day 1

:)))

Evening all.

I think that $ sign is a typo, as all the stuff I have read so far says market cap 30 mil, launch price 79.8p, etc.

This greedy bastard is also hoping for a chunk of the action. Trying to make up my mind whether to read the IPO doc first or just to let rip at the earliest opprtunity.

managed to buy 5,000 with great difficulty at 112 ..... have left in an order for more at that price, but shall not be distraught if i do not get them

Hi cynic, great morning, tried to get in first thing but Barcs didnt want to know, got 'a few' at 100 but selling soon, gotta go out. Will buy a nice lunch, will buy a very nice lunch!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Happy Valentines Day...have fun

Many congrats, ST.
Looks like you picked another winner (at least in the short term).
Never got in myself. Oh well.
Alan

Thanks Al, but it would be a good thing if I had managed to get in already, however, due to the fact I need to get prior clearance from my employer (which is pending), am still stuck on the sidelines.

Gonna invest what I rescued from CBOX yeasterday and then play a waiting game.

many thanks soul* ..... that's another trundle down the pier that i owe you! ..... in fact, have cut and run with 500 clear ...... will now watch and may buy back later ..... suspect sp is still a bit overblown even though it has come back 10 off its high

Well done, Cynic!!

Glad I've managed to do everyone else a favour :o) Looking forward to that ride along the pier. Can we visit the arcade? Pleeeeeze??

(LOL!)

Will post a chart to the header so we can all admire HAIK's progress.

yes .... but not allowed to view "What the butler saw" ...... get you overexcited.

HAIK's progress will note, i hope, be synonymous with RAKE's progress!

So, the approval came back sooner than expected, and I have managed to get in for a cautious 1,000 shares at 126.25.

It will be interesting to see if this gets hammered by the MM's over the next few days. I have the feeling that HAIK will release its FY 2006 results soon - ought to be by end of March anyway - and that this will give a boost to the SP, but there could be a dip in between if the MM's decide to shake out some profit-takers.

FWIW I have had a look at the "First Day of Dealings" article on FT.com and at current SP of 127-ish, the company is trading at 49 mil mkt cap, for a PE of 12.7. And that's on 2005 earnings, so naturally we hope that 2006 will be an even better showing.

FT.com Article

And here's the current spread: HAIK Bid: 120p Offer: 127p

Up about 59% on the issue price.

but i can tell you that even at 08:00 sp was already >100 ...... tried to buy a total of xxxxx at 97 (hahaha!), 107 and 109 and in the ned had to accept part fill at 112 at about 08:15

Right - this was priced to get away quickly so am not in the least surprised you couldn't get in under 100p, Cynic.

FWIW according to Shares Mag, HAIK is expected to make post-tax profits of around 15 mil for 2008, which means at current SP we are on a PE of around 3.27.

No question that this should give us all plenty of reasons to be happy if the business progresses according to plan.

PDYOR though!

virtually all trades now going through look to be red and in relatively large size ...... i am therefore more than happy with my own action for i think sp could now come back significantly during the day ..... but certainly not brave enough to short with a 7p spread!

just for info, and we know this may not be 100% accurate ......

12:36 123.5 5,000 O 122.0 128.0 Sell
12:35 126.5 4,000 O 122.0 128.0 Buy
12:27 128.0 5,000 O 120.0 127.0 Buy
12:25 122.0 28,000 B 120.0 127.0 Sell
12:23 123.0 10,000 T 120.0 127.0 Sell
12:22 125.5 1,576 O 120.0 127.0 Buy
12:01 122.0 5,000 O 120.0 127.0 Sell
11:57 122.0 1,568 O 120.0 127.0 Sell
11:48 125.6 3,000 O 120.0 127.0 Buy
11:47 124.0 8,230 O 120.0 127.0 Buy
11:37 122.0 30,000 O 122.0 128.0 Sell


79,568 sold
21,806 bought

indian rope trick?

Maybe, but the spread has actually moved up since I've been watching:

HAIK Bid: 122p Offer: 128p was 120/127 mid-morning.

Article about the float in the Telegraph, posted on the dark side by OliverCromwell:

LINK

Link to Investegate article posted to header.

the short history shows that i got out too early .... but don't care one iota! ..... wasn't going to buy initially but greed got the better of me; banked a nice and therefore real profit (500) in an hour or two, so no grumbles for sure.

meanwhile, SOLA has taken some viagra (OTC Boots!) which has made for very jolly reading today, along with a few other bits and bobs

Gee, I wish we had Boots here in Germany :o)

Very glad you had a good day, Mr. C! My trade is nudging up towards the break-even. Lovely shape to the chart, too.

HAIK Bid: 128p Offer: 133p

EDIT: tell a lie: I'm in profit! About enough for a Mcdonald's meal :o)

glad i do not need the dreaded blue pill! ......

shall continue to watch Haike, but hope i do not rush back in prematurely ...... my gut feeling is that it will pull back, but i thought that earlier, and it even looked as if it should .... however, guess there may be a big buyer hoovering up on a protected trade that is not yet revealed as not complete

For those of us who like to stay in for a bit longer, there's less worry about a pull-back. However, once some sort of pattern establishes itself I might consider a few sneaky plays on the dips.

Good luck anyway!

Thanks ST, a nice turn out :))

No worries, mate :o)

Advancing again today: HAIK Bid: 133p Offer: 138p Change: 5

still going well ST, how high will it go ??????

nioe one S.T. first time i have read something on this site and acted on it .
made a drink on your post, if you are ever in bridport i will buy you a pint!!

And there's more: HAIK Bid: 152p Offer: 154p Change: 22.5

I am out now, but will keep an eye out !! :)

Thanks, Smiler and Frank.

Actually, Frank, I'm moving back to Bournemouth shortly,so you never know, our paths may cross one day :o)

Smiler, I am thinking of having a top-up as soon as my employer approves my trade.

SP has peaked for the moment; don't ask me how far it will pull back . . . .

HAIK Bid: 145p Offer: 150p Change: 17

Well ST I am all ways in poole so you may get a pint ! :)) Your not taking up sailing again are you !

Smiler, I suspect my Dad will try to lure me onto his new boat - so what I will most likely need to drink is a cup of hot sweet tea with some rum in it after the Coastguard helicopter fishes us out of the briny!! :o)

What I'm really looking forward to is fishing the the Frome at Wareham.

roll on Summer !!!

Aye!!

Commenting on the IPO, Mr. Xiaohong Yang, Executive Chairman, said:

"The response from the institutional investors to the fund raising has been
overwhelming and we are delighted that so many have recognised the potential of
HaiKe. Demand for refined products in China continues to exceed refining
capacity and with our leading position in speciality chemicals, we are well
placed to exploit this significant opportunity. The proceeds raised through our
entry to AIM will enable the Group to continue the expansion of its current
production capabilities, in order to meet this growing market. We believe HaiKe
is in a very strong position with robust markets, strong government support and
a solid platform for growth. We look forward to an exciting future and the
opportunity to deliver value for our shareholders."

HaiKe Chemical Group Ltd.
15 February 2007



HaiKe Chemical Group Ltd
('HaiKe' or the 'Company')


Holding in Company


The Company was notified on 15 February 2007 that Ashcourt Asset Management
acquired, on 14 February 2007, 246,500 ordinary shares of $0.002 each in the
Company ('Ordinary Shares'). As a result Ashcourt Asset Management holds
1,266,813 Ordinary Shares representing 3.30% of the issued share capital of the
Company.

The notifiable interest is registered as follows:

Registered shareholder Ordinary Shares Percentage
Ashcourt Nominees Limited 1,173,603 3.06
HSBC Nominees Limited 93,210 0.24

Total 1,266,813 3.30


Enquiries:

HansonWesthouse Tim Metcalfe +44 (0) 20 7601 6100
Anita Ghanekar

it was certainly interesting earlier in the day that there was only 1 MM offering with the other 2 only bidding for stock

Just doubled my holding at 144p

I had a buy on the system that triggered at 139p so lets hope our luck holds, st.:o)
No other chinese floats imminent that I can see from this week's Shares mag, but a number of Russian newcomers due to float on the 21st Feb.

couldn't miss out any longer so in for 1000 shares today-was waiting for a further drop but this could easilt climb again next week--hope so!!

Welcome aboard, MP! Best of luck!

Up again this morning, 154k traded: HAIK Bid: 149p Offer: 154p Change: 8

header edited with longer-term chart.

HAIK Bid: 143p Offer: 147p Change: -1.5 33.5k traded

ST you have e-mail.

all very quiet on this stock and has been for last 7/14 days

Maybe too much hype on HAIK.

HaiKe Chemical Group Ltd.
27 March 2007



27 March 2007

HaiKe Chemical Group Ltd

Notice of Preliminary Results


HaiKe Chemical Group Ltd, a petrochemical and speciality chemical business based
in China will announce its preliminary results for the year ended 31 December
2006 on 3 April 2007.


Enquiries:

HaiKe Johnson Lau, Chief Financial Officer +86 546 8289173
HansonWesthouse Tim Metcalfe / Anita Ghanekar +44 (0) 20 7601 6100
Cardew Group Rupert Pittman / Shan Shan Willenbrock +44 (0) 20 7930 0777

Am interested to see what happens here. Am currently out, as I had a bit of a rejig in order to get into one or two other things that looked promising. hope i don't wind up regretting it too badly :o)

Good luck to holders.

Results tomorrow

Up 15p (12.5%) today so far. Hopefully in anticipation of good things to come tomorrow.

LONDON (AFX) - HaiKe Chemical Group Ltd posted a higher pretax profit in 2006 with significant growth in its petrochemical and speciality chemical divisions adding it was confident of further growth in revenues and profitability in 2007.
The China-based chemicals firm said trading in the first two months of the new financial year is in line with its expectations and that it foresees a continued strong growth in demand for its products.

In its first set of results after its AIM listing in February, the company said the new financial year has started well with its petrochemical and speciality chemical business showing improved like-for-like performance against last year.

Pretax profit rose 56 pct in the year to end-December, mainly on improvement in the profit margin for the speciality chemical products and strong revenue growth, to 12.042 mln usd on a 27 pct growth in revenues to 254.7 mln usd.

'We are confident that we will continue to deliver further growth and value to our shareholders,' chairman Yang Xiaohong said.