Barramundi ( BRM )

[croesus]

Banks..... the original fair weather friends....

[Lawso]

Bad luck, guys. I don't know what I did right or wrong but - eventually - I got confirmation of my promised allocation through ASB - and ASB is not even my main broker. So I'm already sitting on a nice profit and am thinking of cashing in on the warrants.

[ratkin]

And another thing that peeves me off is that people who wanted them for the longterm miss out, meanwhile millions of them being traded within minutes of them listing.

The brokers get them all , then get our money (interest) then sell them at a profit back to us while we have to give them more profits by paying brokerage.

Whole system is corrupt. They should ban people selling these things for a fixed period after listing , maybe then they might end up in the right hands

[redzone]

Are you saying we should get Helen etc to stop trading like concert tickets etc

[gamerice]

those of you that missed out on the allocation,
when did you send in your application?

[pierre]

I received notice of the opportunity to participate in the oversubscription through the National Bank share trading website. They direct debited my account one day and I had the allocation of shares and warrants the next.

Very tidy and no drama - and so far at least - I am very happy with the outcome.

[mrbunnynz]

gamerice - I sent my application in only a few days before the close date, so I'm not too surprised I didn't receive an allocation. What I was surprised at was the attempts to stall and avoid giving me my money back for as long as possable

[gamerice]

quote:Originally posted by mrbunnynz

gamerice - I sent my application in only a few days before the close date, so I'm not too surprised I didn't receive an allocation. What I was surprised at was the attempts to stall and avoid giving me my money back for as long as possable

If my memory serves me correct, i believe the refund cheque from the over-subscribed Vector IPO took nearly two weeks to reach my mailbox.

Now i am not suggesting that this should be the standard of how they operate, however, as a small, private investor, there's just not much you can do.

[Bobby_Fischer]

Managed to get a few of these in the IPO. On last sale price, one share plus 1/2 a warrant is worth 1.245. A 24.5% gain on IPO. Predicated on what exactly? They haven't invested in anything yet have they, and have 98.1 cents per share (+ 1/2 warrant) in the bank. Must be doing Carmel's ego some good, I reckon.

Have to say it's proving pretty difficult to resist the temptation to take the money and run.

[777]

They only have the 98.1c per share in the bank. There is no value to the warrant to them at this point. They never received any money for issuing them, just the 1.00 per share.