中國地產集團 (1838)

I don’t think 1838 is a good stock for long term investment although some people might still be able to gain simply by subscribing on the IPO and sell their shares soon after the company begins trading. After all, people are still bullish on the China property market.

I am not too in favor of the company because:

(1)1838 depend too much on the property market: The government has been trying to calm the property market. Earlier this week, the official announced that the leaders of any province will be punished if they fail to calm the property market, hence I think something will be done to slow down the growth of the property section sooner or later.
(2)1838 lacks geographic diversification: the company depends too much on the Shanghai property market. Pls refer to the “Risk factor” section of 1838’s online prospectus. (link given below). If the government wants to calm the property market, Shanghai would be a good place to start because the Beijing government has recently finished kicking out the “上海幫”. Remember those bribery cases 6 months back?

I think there are other property stocks that are larger in scale to invest in, still I would wait for the China property market to calm a bit more before I put more money in the sector. To me, I think even SHK property in HK (given the undervalue closing price last Friday) is a better buy than the 1838 IPO.

好似另一隻1383好D喎

唔好抽呀, 買股票之前請做足功課,切記不要盲目投資, 這句說話語重心長。受傷的人極大啟示。

抽!!!!

IPO詳細資料

股份代號
1838
股份名稱 中國地產集團有限公司
公開發售股份數目 45,000,000
發售價 每股份4.70港元
面值 每股份0.10港元
申請時間 2007年2月9日 上午 9:00 至 2007年2月14日 下午 12:00
上市日期 2007年2月23日
發行人公佈的股票寄發日期 2007年2月22日
發行人公佈的退款支票寄發日期 2007年2月22日