Abterra: Please note that Abterra has gone ex following a share consolidation of 25 shares into 1 share. The last done price of Abterra is 4¢, which translates to an ex price of $1.00. At current price of $1.25, the stock is trading at 5¢ on a cum basis or at par to its book value. For 1H10, the China-based commodity trader achieved a net profit of $6.1m on revenue of $103m due to higher mix of coke/coal sales, which commanded better margins.
With its extensive network in China & India, the group intends to expand its trading capabilities while retaining its existing customer base. Stock is trading at ~21x annualized FY10 P/E.
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