SUM - Summerset Group

[Joshuatree]

You can try but my broker wanted a decision from me by 10.30am

[macduffy]

It's not a great discount but I like the company and the sector so have put my hand up for a few. If I get all I asked for SUM will be one of my bigger NZ holdings. Will be interesting to see how much I get scaled.

[Dej]

Seems the cap is lifted! New highs here we come!

[clip]

Just saw rhe number of announcements and sp spike, wahoo can't read rhem on phone unfortunately. Gkad to have got in 2 weeks ago

[CJ]

Yeehaaawwww! Look at those names buying up large. Way better buy than MEL!

They are the brokers - I think that is just a temporary thing.

[Dej]

They are the brokers - I think that is just a temporary thing.

Its brokers buying on behalf of their clients isnt it?

Either way, after a major sell down you expect price to decrease, good sign it has actually caused an increase in SP.

Disc: Holding

[CJ]

Either way, after a major sell down you expect price to decrease, good sign it has actually caused an increase in SP.

I expect it to drift down from here on profit taking. The $3.10 should be the floor though.

[macduffy]

I have apparently been allocated 70% of what I asked for. Happy with that.

[Lorne Ranger]

I have apparently been allocated 70% of what I asked for. Happy with that.

Would that indicate it was about 40% over prescribed then? Seems a reasonable jolt of SH endorsement?

[macduffy]

Would that indicate it was about 40% over prescribed then? Seems a reasonable jolt of SH endorsement?

I doubt whether we could draw too many definite conclusions from one (my) experience. There were apparently four brokers involved; different levels of interest from clients of each?; different treatment of clients within each brokerage? But I think it's probably reasonable to conclude that the placement was well sought, particularly as the SP finished up.