And so begins the climb again. Snakes and ladders is just a training tool for children's' future share investing, the same way musical chairs trains them for finding a carpark.
My read of the NBR article is positive. They didn't want to sell down in smaller chunks because of the overhang perception it would create. Getting institutional funds on board is the best thing they can have done - they will be strong holders and it will initiate coverage by brokers (like GS already) which will lead to further buying. and then as there is more liquid float, there will be more passive fund buying required at quarter-end.
Over the last few months, I felt there were too many sellers lined up above $4.30, but I sold out my stake too early, as a result. I bought back in yesterday and topped up what I didn't get allocated. I agree the share price has been flat since Dec, but I think it will soon be off on another run, now this deal is done. I don't think we will see sub-$4.00 again.
(I heard similar concerns about the ERD placement at $3 (i think?) and look where that is now...)
My read of the NBR article is positive. They didn't want to sell down in smaller chunks because of the overhang perception it would create. Getting institutional funds on board is the best thing they can have done - they will be strong holders and it will initiate coverage by brokers (like GS already) which will lead to further buying. and then as there is more liquid float, there will be more passive fund buying required at quarter-end.
Over the last few months, I felt there were too many sellers lined up above $4.30, but I sold out my stake too early, as a result. I bought back in yesterday and topped up what I didn't get allocated. I agree the share price has been flat since Dec, but I think it will soon be off on another run, now this deal is done. I don't think we will see sub-$4.00 again.
(I heard similar concerns about the ERD placement at $3 (i think?) and look where that is now...)
Pretty much agree with this. As to why this event at all - well its been alluded to here and that's sad really (if the reason is true).
Goldman-Sachs are a lot of things, but stupid isn't one of them.
$14.6m gone through on NZX so far today. I think that's a very good sign. And the books in both NZ and on the ASX are full of good-sized bids and offers. As I recall, it was a lot thinner before this sell-down; so people will be happier to take positions and bigger ones, because they know they will be able to get out without killing the market. And there are now many more buyers than sellers lined up, again both on the NZX and ASX. I'm putting my tiny hand up for a few more as well.
My read of the NBR article is positive. They didn't want to sell down in smaller chunks because of the overhang perception it would create. Getting institutional funds on board is the best thing they can have done - they will be strong holders and it will initiate coverage by brokers (like GS already) which will lead to further buying. and then as there is more liquid float, there will be more passive fund buying required at quarter-end.
Over the last few months, I felt there were too many sellers lined up above $4.30, but I sold out my stake too early, as a result. I bought back in yesterday and topped up what I didn't get allocated. I agree the share price has been flat since Dec, but I think it will soon be off on another run, now this deal is done. I don't think we will see sub-$4.00 again.
(I heard similar concerns about the ERD placement at $3 (i think?) and look where that is now...)
I agree with this. The NBR article was a good explanation of what they´ve done and the reasoning for it. Well managed process in my view. Great to have the new institutional investors onboard and all the best for the founder exiting to deal with difficult personal circumstances to deal with.
I reiterate that I am pleased they´ve stopped thinking about NASDAQ listing as I think it was a very far fetched idea for PPH currently. Prefer they stay focused for now on growing the business and making it cashflow positive. this year
Liking that 19 parties stumped up an average of $5m + to buy in/more so quickly and at a not-too-discounted price.
Liking that the SP is recovering quickly too
Liking that 19 parties stumped up an average of $5m + to buy in/more so quickly and at a not-too-discounted price.
Liking that the SP is recovering quickly too
Very nice, 208,000 swapped at $4.26. Those Buying at $4.04 will be well pleased and those on $4.36 the other day only a little behind.
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Originally Posted by gbogo
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