CBL Insurance IPO

[trader_jackson]

Posted prior to listing (nearly 2 and a half years ago).
At first it seemed I was very wrong, and the share price 'only' went up... but now seems the wheels are showing signs of falling off...

Not only are the wheels showing signs of falling off, but the vehcile inspector now wants more answers as well... things going from bad to worse.
Must have been that bad "feeling" I had way back in late September of 2015 now seems to be coming to light.
Not an investor, and have never been, but will be watching with interest.
May not have been just a "feeling" that put me off this

[winner69]

Suspension / trading halt weeks now

Just as well Beagle don’t own any shares in CBL

[Lola]

Suspension / trading halt weeks now

Just as well Beagle don’t own any shares in CBL

Maybe that Jeremy on Seven Sharp should interview the Chairman and together tell us whats going on?

[Balance]

Suspension / trading halt weeks now

Just as well Beagle don’t own any shares in CBL

Going to bew very very difficult to get any kind of capital raise away in these kind of market conditions.

Maybe at giveaway prices?

[kiwico]

So today's update isn't really an update....

12 February 2018

ASX SUSPENSION
CBL has requested that its shares remain in voluntary suspension in ASX (and their trading is also suspended on NZX). CBL is still working towards a capital raise, but the timing for this as well as the proposed amount have not been finalised, and are dependent on a range of factors including engagement with regulators and potential investors, which are likely to require a number of weeks. CBL will continue to update the market in this regard.

[peat]

shouldnt they keep trading. I was thinking with FBU as well why not let the market run. Sure there is uncertainty, like always, but the point of a market is to provide liquidity and with two decent stocks on the NZX suspended there is a failure to do that. Of course there may be a heap more insiders than usual but they will know who they are and should just stay schtum.

Or am I still wearing my cowboy hat from the 80's?

[macduffy]

Does it still fit, peat? My own headgear from those days doesn't get much wear these days!

I think the case for trading in an informed market over-trumps (sorry for that word) the liquid market argument?

[JoeGrogan]

There was an update at close on the asx for those interested

https://www.asx.com.au/asxpdf/201802...2ljczcv074.pdf

[trader_jackson]

There was an update at close on the asx for those interested

https://www.asx.com.au/asxpdf/201802...2ljczcv074.pdf

So they are exiting an apparently profitable business ("strategic acquisition" to put it in their exact words) they paid $150M (for 71%) barely 1 year ago and still raising capital and still being investigated by the FMA or something... my goodness me, this really is unbelievable... that big wig at CBL who won that big award at the end of last year surely must be in line for the opposite this year

If its a rights issue or SPP, better be careful what price they try raise capital at, might find they have nobody wanting to participate...
Any word on when trading will start again?

https://www.nzx.com/announcements/295252
Almost makes you laugh reading over this now... for all the wrong reasons

[Lola]

So they are exiting an apparently profitable business ("strategic acquisition" to put it in their exact words) they paid $150M (for 71%) barely 1 year ago and still raising capital and still being investigated by the FMA or something... my goodness me, this really is unbelievable... that big wig at CBL who won that big award at the end of last year surely must be in line for the opposite this year

If its a rights issue or SPP, better be careful what price they try raise capital at, might find they have nobody wanting to participate...
Any word on when trading will start again?

https://www.nzx.com/announcements/295252
Almost makes you laugh reading over this now... for all the wrong reasons

This is quite extraordinary.
Nobody from the Board had the sense of duty nor the guts to put their name to the ASX Announcement.
Yes , as said before, let us see the FMA Dial in on this apparent Pike River lookalike.
Leave NZX out of it. Too many conflicts for them.