[QUOTE=percy;395923]But how "exclusive" are their rights? I seem to recall Sky bidding against TVNZ for various sporting events and not winning them all.
However, I've taken a few off Rupert's hands today at $4.80, cum the 12c dividend.
Printable View
I have also taken a chunk from the sell down. May not be forever, but at the moment and medium term, still nothing beats My Sky+ HDI. Good yield and growth not over yet IMHO. Not a huge discount but also cum the 12c dividend. Sometimes I need a bit of a nudge to get into a stock and this was it.
Will be interesting to see if the Fairfax holding is sold at a discount to SP...thats a lot of shares to unload..surely should drive price down..one would think.
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 :scared::scared:
Being underwritten see under annoucements:
https://www.nzx.com/markets/NZSX/securities/SKT
I am in as well! It usually means share price will crash:D
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.
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.
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.
As with any investment you pay your money and take your chances!Quote:
Hope Sky TV will be different.
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"?