I'm picking this will slowly drift down to below $3 mark as current holders look to lock in some profits before they get their new discounted shares.
i dont know about $3 but im sure there will be some people who see a 40% gain as tempting if they wish to reduce some holding. guess it depends on your long term view of value
How did you guys get access to the institutional offer?
Probably clients of one of the underwriters. If an offer's worth having, the usual result is to get nothing, or very little, but a lot of applications make up the numbers and contribute to an impressive degree of over-subscription.
How did you guys get access to the institutional offer?
Yes ive had relationship with Craigs for a while now so they now offer me the odd titbit. Dzhang, yes 20-22% but someone must have dropped out and i was just lucky on the day.
Right on Mac, thats what often happens,dissapointment at the scraps one gets. Im about to apply for Wholesale investor status so may get bumped up a bit.
Your previous post Arthur was one of the few accurate posts on Comvita atpit, thanks.
Last edited by Joshuatree; 29-05-2020 at 03:45 PM.
A company with a very poor and chequered history and an extremely dubious past when it comes to forecasting anything.
It remains to be seen whether anyone got a bargain with the history of this pup.
"eligible institutional shareholders elected to take up 10% of their entitlements"
What this clearly says is despite the apparent deep discount to previously traded prices existing institutional shareholders have had an absolute gut full of broken promises, B.S. forecasts and management ineptitude. Turnover was supposed to be $400m this year...anyone on here remember that ?
Just a reminder, they lost just on $13m at the half year result announced in late February. https://www.nzx.com/announcements/349069
ANYTHING this company says about the future needs to be read with deep scepticism and being fully cognisant of their multiple wildly missed forecasts in the past.
One also needs to be fully cognisant that honey harvests vary widely from one year to another and just because they might be having a better year this year doesn't mean it won't all turn to custard again next year. A smart approach is to look at their average performance over the last few years (which reflects average climatic conditions) and then ask yourself if this company is actually a viable entity in its current form ?
Disc: Don't own, not short and not interested at any price. Just posting this as a warning that the very best guide to the future is the most recent past !
Others will have a completely different view because now its different, or so they think, and they're perfectly entitled to their opinion too and good luck to them.
Last edited by Beagle; 30-05-2020 at 10:26 AM.
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
Originally Posted by Joshuatree
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