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Minggu, 12 Juni 2011

DOID is counting the days to June 13

DOID is counting the days to June 13, General Shareholders' Meeting (GSM) with the main agenda to set its right issue pricing. The set price of secondary offering has all been proposed under the recently released prospectus at IDR900 for ratio 100:500.


Everyone with DOID should be thankful to those who made it possible to reach DOID at its most attractive price, even much earlier before the right issues pricing is finally set. We notice that big thanks should be given to utmost UBS AG which has help all of interested traders/investors to have DOID at its attractive prices for the past couple of weeks.

Today, we want to make a note in direct comparison between UNTR and DOID during the day when the right issue price is set, and it will be your judgment to call.

UNTR
-No price range for the planned right issue. Price has all been singularly set in the prospectus released on March 31, intra day, at IDR15,050. On May 2, GSM formalized the set price. Look, how low was UNTR right issue price compared to the actual closing stock price on March 31 at IDR 21,700 = -30,64%.

DOID
-DOID had not yet set the exact right issue price when the plan was announced. They had just mentioned the range (IDR850-1,200) on May 12. They just now mentioned the exact price in the released prospectus at IDR900 today, June 09. And, so far hedged against its VWAP at IDR 1,125.62 = -20.04%.

We maintain buy to DOID and are in preparation to release the update into Focus List. Adding the right issue at an attractive price would extend the potential gain, and put no dilution.

Meanwhile, it would be worth noted the following attachment of summarized standing point from one of our different house colleague. We undisclosed the name and the house to let you guess who wrote this, and found how wonderful they played the stock in two different shoes for the past weekend.

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