Utilico Insights - Jacqueline Broers assesses why Vietnam could be the darling of Asia for investors. Watch the full video here.
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MMs are only there to facilitate a trade between buyers and sellers and individually hold minimal stock for obvious reasons as they make money on the spread. That is their job. Some UK holders have been able to trade from the first day and more have been able to do so since. it does not make sense to think MMs somehow manage the market and driven down on expectation of a mass Exodus from UK investors.I think the unprecedented volume on the first day to me pointed to Double River selling their holding but that is not confirmed but the volumes were so high that it seems there is no other explanation. The new investors might have sold but as we know the share price increased to around 12p initially before heavy selling. what the BOD need to do is put confidence into the market to attract new investors at these very low levels and provide confidence to recent IPO investors so they can buy more and average down. Hopefully the BOD will turn over a new leaf and engage wider share audience as that is the quickest way for them to build their market capitalisation.
Hertstrder74 is on the money here. The market makers in HK were really worried that all the AIM holders were sitting on big profits at the IPO price and that, when they converted in to HK stock, there would have been a mass sell off and they would have been left holding stock they couldn't shift. So they dragged it down to a level where they think there won't be a sell off when the converted AIM shares become available to trade
Nothing's going to happen until after the ex AIM shares become tradeable. Then the HK market makers will see how much selling there is. If the answer is not much then they will allow it to increase if there is buying demand
It would certainly certainly make sense for BOD to release good trading update or something pre UK investors are able to sell, some of whom were able to on the first day but many still waiting. Most UK investors will only be able to sell unless they moved to a trading account that covers HK but management know they need to deliver to recent investors who since IPO are down 60% so there will be a lot of angry HK investors who have no information from CNE for the disastrous start. The silence is sadly exactly what they were like on AIM and they need to now change their ways and embrace investors and grow the company. They have £15m cash today with raise so that is a lot of money that they need to start actively using.
It could be HK investors are a little nervous of buying in now before the LSE shares can be traded as they could be fearing a Mass sell off at that point
Well said Simms, you could do worse than to Twitter that to Richard Bennett, it's a pretty obvious message that the BOD seem to ignore