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  1. #111
    Guru Xerof's Avatar
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    Bboy, it is in a trading halt, for two days, whilst the broker places the stock with insto's and other clients willing to buy them. Apparently, the price they are being placed at is 4.80 cum divvy.

    ATM was similar situation recently, when foundation holders sold down at a discount

    seems to be becoming a regular event.....in my language it's called distribution.....

    oh yes, and it's the ides of March too

  2. #112
    Advanced Member BIRMANBOY's Avatar
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    You would think its a buyers market...$4.10 take it or leave it or on yer trike. Et tu brute.
    Quote Originally Posted by Xerof View Post
    Bboy, it is in a trading halt, for two days, whilst the broker places the stock with insto's and other clients willing to buy them. Apparently, the price they are being placed at is 4.80 cum divvy.

    ATM was similar situation recently, when foundation holders sold down at a discount

    seems to be becoming a regular event.....in my language it's called distribution.....

    oh yes, and it's the ides of March too
    Last edited by BIRMANBOY; 04-03-2013 at 03:56 PM.

  3. #113
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    Being underwritten see under annoucements:
    https://www.nzx.com/markets/NZSX/securities/SKT

  4. #114
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    I am in as well! It usually means share price will crash

  5. #115
    Legend Balance's Avatar
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    Quote Originally Posted by Lotto View Post
    Being underwritten see under annoucements:
    https://www.nzx.com/markets/NZSX/securities/SKT
    Underwritten at $4.80 means underwriters will get as many as possible to pay $4.80.

    For a select few (i.e.. hedge funds), they will get a share of the underwriting action - so entry price for them will probably be $4.56 to $4.75 (1% to 5% underwriting fee).

    Watch for them to sell out aggressively post placement - as they did with AIA and ATM. Quick in and out.

  6. #116
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    Quote Originally Posted by BIRMANBOY View Post
    I thought it was on a trading halt? Or did you buy yesterday?
    I got them in the Placement BB.

  7. #117
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    This may be a silly question but with all the recent sell downs what is the best/ easiest way to be a participant? I currently use direct broking for any share transactions.

  8. #118
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    Quote Originally Posted by ace5715 View Post
    This may be a silly question but with all the recent sell downs what is the best/ easiest way to be a participant? I currently use direct broking for any share transactions.
    Be a client, preferably a big client, of the brokerage firm doing the placement/underwriting.
    Free delivery worldwide with Book Depository http://www.bookdepository.co.uk

  9. #119
    Legend Balance's Avatar
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    Quote Originally Posted by CJ View Post
    Be a client, preferably a big client, of the brokerage firm doing the placement/underwriting.
    Trust me - unless you are an institution, very high net worth individual or incredibly well connected with one of the principals of the brokerage firm, you will get either bugger all or the lousy placements.

    Even NZ institutions get left out of the hot placements!

    Look at AIA as a prime example. They started offering it to retail investors in the late afternoon after failing to sell down all to the institutions overnight and in the morning. I declined and it proved the correct decision as the hedge funds who bought dumped the stock down to 5 cents below placement price of $2.76. Why? Because they get theirs at the underwritten price of $2.70 or thereabouts. Heads they win, tails you lose.

    Hope Sky TV will be different.
    Last edited by Balance; 05-03-2013 at 08:06 AM.

  10. #120
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    Hope Sky TV will be different.
    As with any investment you pay your money and take your chances!

    It's always a temptation to take a placement at below market price but first consideration should be the stock itself, ie "Would I buy it without the "discount"?

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