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Nice intraday reversal, I feel that we may have retraced and are now going to move back up in anticipation of the re-rate driven primarily by the HKEX listing and underpinned by the company's financial performance, cash position and bulging orderbook.
MMs move the Ask to 7.30p, yet keep the live Ask at 6.65p so that they can print all buys as sells............. Obviously trying to collect shares at this level to sell back when the expected re-rate happens - FFS
Lets hope the BOD before releasing prospectus had done its charm offensive and already secured investors for the open offer. i am not sure they would have gone to all this trouble if they did not taken care of making sure the offer was largely subscribed in advance, although £5m being raised is very small.
The price is irrelevant as the announcement when it comes sets the new value regardless of whats happening on AIM
I felt that 8p was probably a fair discount to the potential range of HKEX list prices and, as such I sold a chunk at 8.6p a week or so ago
Just rebought those I sold as the price is too low for the risk. I suspect it's brokers who can't hold HKEX offloading.
Nevermind UltraInvestor, you can still buy in close to that price now, I feel that this current price is a no brainer and the MMs have dropped it down here to gather shares to resell higher when the expected rerate happens.
I tried to buy at 6.50 but couldn’t get an electronic quote. Some lucky buggers bought at that price aaargh
I am really surprised that people are selling this close to news and missing out on the majority of the expected rerate. I am certainly holding mine tight and actually added some at 6.50p as I was amazed that could buy at this price when expected to gain entry to HKEX at a much higher price.
Re-reading the timeline document it looks like they will determine the price between Today and Friday this week and make the official announcement on Tuesday 14th July by the looks of it, ready for trading on the HKEX on the 15th July.
Expected Price Determination Date(5) ...............................Tuesday, 7 July 2020
(5) The Price Determination Date is expected to be on or around Tuesday, 7 July 2020, and in any event no later than Friday, 10 July 2020. If, for any reason, the Offer Price is not agreed between the Joint Global Coordinators (on behalf of the
Underwriters) and the Company by Friday, 10 July 2020, the Global Offering will not proceed and will lapse.
Announcement of the final Offer Price, the level of indication of interest in the International Placing, the level of applications in the Hong Kong Public Offering and the basis of allocation of the Hong Kong Offer Shares to be published on the Stock Exchange’s website at www.hkexnews.hk and the Company’s website at www.zkty.com.cn on or before ..............Tuesday, 14 July 2020