Fonterra Shareholders Fund

**BIRMANBOY** · 29-11-2012, 02:18 PM

How can it be correct? ...pardon me but it hasn't happened...pure speculation that they will dump for a profit. In the vacuum of knowledge....inventive ideas flourish.

Originally Posted by J R Ewing

42% is "a few"?
Kiwis are "a small incestuous pool"?

And if it is correct that these overseas instos are likely to dump at a profit on day one, just how will that either "raise the value and visibility of the product" or create wealth for anyone other than the overseas inst and the broker?

**Silverlight** · 29-11-2012, 04:36 PM

Originally Posted by POSSUM THE CAT

RTM In an Auction you sell first to the highest Bidder & a Book Build is an Auction. So tell the NZ institutions to bid Higher. They got the right to pick up the remainder at the book build price. They could have bid the maximum book bid price. Just like others did.

Possum, word in the broking community is that there were a number of local institutions who bid for over a million units above the $5.50 price, noting that the investment statement said Fonterra has the ability to price the issue above the indicative range, and these institutions got nought.

**J R Ewing** · 29-11-2012, 05:12 PM

Originally Posted by BIRMANBOY

How can it be correct? ...pardon me but it hasn't happened...pure speculation that they will dump for a profit. In the vacuum of knowledge....inventive ideas flourish.

I did say IF it is correct. Earlier in the thread I was assuming that these overseas interests would be buying not selling tomorrow, but some seem to think otherwise - time will tell I guess.

Anyway, mine are getting buried in that small incestuous pool, at least for the meantime

**The BOWMAN** · 30-11-2012, 09:21 AM

Why list at midday? Is this to suit overseas investors better so that they don't have to get up at midnight to have all the action?

**777** · 30-11-2012, 09:24 AM

Opening time may take the drama of a new listing away.it happens with most initial listings with TV cameras present. No big deal in my opinion.

**Silverlight** · 30-11-2012, 09:31 AM

Originally Posted by The BOWMAN

Why list at midday? Is this to suit overseas investors better so that they don't have to get up at midnight to have all the action?

As 777 stated, IPO's are always delayed 1 to 2 hours, so the market can give undivided attention to the IPO when it starts trading. (i.e. Summerset/ Trade Me/ Moa etc all started trading at 12).