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  1. #2451
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    I have no idea why a 2.83:1 issue at a third of the price is even legal. What a bloodbath.

  2. #2452
    Senior Member moimoi's Avatar
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    Quote Originally Posted by Yoda View Post
    Do you think some retail investors will be selling today at 15 and then buyback this week or 12? Might that have a connection on the downward share price today?
    Retail investors don't have the computing power to affect the price nor the recent unusual volumes. Morgan Stanley via todays SSH notice does however...

  3. #2453
    Legend Balance's Avatar
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    Quote Originally Posted by Ogg View Post

    How else do you get 10m volume daily on here.

    Pure manipulation.
    I think it's just 'new' investors taking their very nice 25%+ quick profit, courtesy of a grossly unfair capital raising structure in favor of institutions.

    Remember that there are 178m shares issued to new investors at 12c.

    In their shoes and in the market conditions we are in, who can blame them for taking their profits?

    The issue should be like they were in the old days - a pro-rata issue to ALL shareholders at the same time.

    It's clear that the structure is to suit the company, underwriters and institutions - bugger the small shareholders.

  4. #2454
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    Quote Originally Posted by moimoi View Post
    Retail investors don't have the computing power to affect the price nor the recent unusual volumes. Morgan Stanley via todays SSH notice does however...

    Retail investors actually account for 24% of the $157m to be raised so they hold 105m of existing shares, before the rights issue.

    It is entirely possible that some may be selling to pay for the rights at 12c.

  5. #2455
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    Quote Originally Posted by Balance View Post
    Retail investors actually account for 24% of the $157m to be raised so they hold 105m of existing shares, before the rights issue.

    It is entirely possible that some may be selling to pay for the rights at 12c.
    Yes I suspect there will be a reasonable element of that.

    It is frustrating how some of these institutions and insiders are going to benefit from the deal.

    However, remember your circle of influence and circle of concern!

    I’ve noted the injustice. I’m not particularly impressed. But I’m not going to dwell on it because it doesn’t really help me.

  6. #2456
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    Quote Originally Posted by flyer View Post
    The whole thing has been a crock of ****. Us retail holders who really NEED TO participate do not get their shares to June and then by then the share price will probably be under 10c at the rate its going- not happy.

    I somehow doubt it’ll go to 10c but if it does you can get an even better deal

  7. #2457
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    still can not believe it that anyone would buy SKT shares....

  8. #2458
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    Quote Originally Posted by Cadalac123 View Post
    I somehow doubt it’ll go to 10c but if it does you can get an even better deal
    How?

    The rights issue is set at 12c.

  9. #2459
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    Let's get things in perspective people!

    The Kathmandu TERP was NZ$0.72. It traded down to $0.62 (13% drop)

    The Sky TV TERP was $0.17 and it's now down to 14.6 (14% drop)

    Kathmandu also opened strongly after the placement and traded down in a similar pattern to Sky TV.

    The overhang stock on Kathmandu was eventually absorbed by new institutional investors, Norges Bank etc

    The point is, is that this is very normal trading behavior. There's too much downside pressure with all the shorting and short term profit taking going on.

    Give the stock time to churn and it will bounce back strongly once all the weak hands have been shaken out.

    I keep saying give it time. 2 weeks minimum. By mid July it will be 21+. You read it here first.

  10. #2460
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    Quote Originally Posted by King1212 View Post
    still can not believe it that anyone would buy SKT shares....
    People will buy anything if you put a price on it.

    Just $254m market cap at today's closing price.

    Only $11m debt.

    2021 EBITDA forecast range of $100–130m

    Sky is a household name in New Zealand. It's a profitable business. Over 1 million customers. Many bandits have falsely called the end of the company for many years but have been wrong. A major restructure of the capital has just occurred. Very interesting time to be an investor. Comcast recently bought Sky UK for $39B. Active investors like Black Crane have entered stock recently and see potential. If this doesn't get you excited then nothing will.

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