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I was Barclays Stockbrokers from 2007 until they switched over platform some years ago.
I’m now with ii and they are good and you can trade on HKSE. I spoke to them today and they’ve said it will take between 6-8 weeks for the stock transfer to complete over there. Commission will be the same I pay now as far as I know which £3.99 to trade online
It was really disappointing and is likely to mean I miss out on between 5-10k depending on where this jumps to in the next few days. There’s always a risk of course but it looks like it’s job done from here. My average is about 1.8p so still did ok.
All of my trading will be done with other brokers now, and once my modest portfolio recovers (hopefully soon!) I’ll be selling up and closing my account with Barclays!
I have been watching here for info on the move since it was tabled last year, and expected the option of getting a certificate and sorting it out myself, but that wasn’t an option when they went through the action notification on 29th June.
As has been said here earlier hopefully the news tomorrow comes early on rather than in the afternoon!
Wow. That is really shocking for Barclays to force the sale of your shares. At least HSBC offered to arrange a share certificate. HL just say expect higher trading fees in red letters but sadly a lot of pis are being forced and the MMs know this.
SouthamptonSR, thanks for the insight as it seemed really strange that sells would be going through today of all days.
Hopefully you’ll see a nice return on the ones with AJ Bell tomorrow to compensate for not getting the full value on the Barclays ones.
I’m a long term holder here, using Barclays stockbrokers to do my trading. I thought it was worth making people aware that as Barclays don’t trade on HKSE they announced in their corporate action 2 options for holders, either sell ourselves on Friday or they would start selling for us today.
When I complained that we would be missing out on tomorrow’s news they basically said tough. So a lot of PIs aren’t getting an option and are being forced to sell today.
There are probably other brokers doing the same, so that may account for the volume of selling today.
I have a separate holding with AJ bell, but couldn’t get the Barclays held stock transferred in time. Here’s hoping tomorrow is a good news day!
Looks like a few PI's and the MM's are betting against the listing happening on the 15th based on trading today as that would be the only reason you'd sell ahead of tomorrows big announcement (that could land at any time tomorrow or in the next few days). Seems odd when this has been planned for over the last 18 months and Chinese Investment is pushing ahead at the moment at PI and State Level. GOOD LUCK ALL if you are holding on for the big news, can't wait to get away from the madness of AIM trading.