I think the market may have taken dilution into account already which is why there was not too much of a drop today. I was a bit disappointed yesterday though i thought the share price would rise just like shares do before dividends.
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I think the market may have taken dilution into account already which is why there was not too much of a drop today. I was a bit disappointed yesterday though i thought the share price would rise just like shares do before dividends.
For those of you unclear about rights, I suggest you talk to your advisor, your broker, or for those DIY onliners, call the help lines that ASB, DB, etc have.
Apologies in advance to ASB, DB etc, if they get swamped, but hey, you do pay them brokerage, so you are entitled to assistance ON EXPLAINING HOW THE PROCESS WORKS. Dont expect advice on what you should do.
there is no immediate urgency, perhaps even wait until the paperwork arrives, and it may become clear then
Be careful with China... I live here and see whats going on around me.
They are building infrastructure they cannot afford. The reason for doing so is because big projects make the government people look amazing which launches them up the ranks of the communist party. At the same time the way the local councils make money is by opening up new land for development, pocketing money into their own pockets and the councils. Its pretty much the only way of increasing revenue for the local councils who are under (last count... so far) $11 trillion RMB of debt or $2 trillion USD based on construction of new roads/airports/subways etc. All of this is made possible through the real estate boom which has seen huge increases in apartment prices which in most city now sit around a median multiple of 25-45 times the average wage (NZ is 5-6). And almost all new apartment blocks have a 10-40% occupancy rate with the others being bought by everyone from speculators to mom and pops because they have nowhere else to put their money safely.
I live down the road from a "new city" which in a couple of years is supposed to house about 2 million people. Construction started 5 years ago and the occupancy rates of apartments there is 5% with shop rents literally the same or equal to those in Manhattan (and this is a tier 2 Chinese city in the far SW). The kicker is that nobody that lives in the "old" buildings (10-20 years old) can afford to live in these new buildings because the rents would be around 60-80% of their salaries.
I am telling you... something is going to snap here. Considering it is estimated between 3-5% of all GDP growth in China is due to building infrastructure/apartments etc... considering there is a fairly untalked about mass exodus of rich Chinese buying their way into visas in foreign countries (including NZ)... considering high up government officials are increasingly buying and maintaining apartments and houses in foreign lands and hiding their passports or claiming they don't have them... considering the increasingly social discontent as farmers and pretty much everyone keeps having their land taken forcefully by the government... plus considering China's 2000 year history of revolutions based mainly on greedy landlords ... it starts to look a little scary.
Masfen sold 1.25 million shares... I don't like it when good investors sell down on my investments, even if they are just having to rebalance their portfolio...
https://www.nzx.com/companies/PEB/announcements/243357
he also sold a LOT at ~65/75 area. Lots of reasons for selling things blobbles, not all of which are sinister.
Thought it was the same seller, brokers selling technique stood out like canines nuts. i.e. Slip them out in the morning, then get heavyhanded in the auction, so he can tell Peter what a great average he got for him compared to the close
I have been to China a few times in the last 5 years.
5 years ago, the Western media was full of the same scary stories of 'ghost' cities etc.
I talked to one of the executives of a big multinational who owned one of those apartments and he said he will not move there until the lease on his government apartment was up. Cheap rent from government, see but he wanted to make sure he bought and owned a property. He said it was common practice by many of the new apartment owners.
He had a good chuckle when I asked him about the scary stories and he replied 'shows how much the Western media and economists know about China.'
Well, that was 5 years ago and China is as strong as ever.