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Trying to keep this reaction of Rns as fact based as possible.
Looked back at the RNS that came out from last bookbuild found this part of the quote from sharecast on Jan 7 @ 20:55
“The two businessmen also owned another approximately 7.0% of NMC's equity jointly via Infinite Investments LLC, which would be subject to a 180-day lock-up.”
I think this will help align and perhaps go some way to explain this tranche size of shares being placed on bookbuild. I believe It all amounts to the same thing, debt clearance of these same 2 owners that have directly or jndirectly pledged against shares.
Love to know what share price these loans were initially pledged at....
I really hope this is the last of the book builds!!!! Had enough of the last one! Can someone give me an insight into what is being paid back?
Once the shares are transferred will the proceeds be paid to the lender ie ENBD?
Has this got anything to do with NMC’s debt or is this just the debt of Infinite Investment LLC?
MT
What happened to the lock up
Previous Rns
H.E. Mr Saeed Mohamed Butti Mohamed Khalfan Al Qebaisi and Mr. Khaleefa Butti Omair Yousif Ahmed Al Muhairi own an additional c. 7% in NMC Health jointly through Infinite Investments LLC, which will also be subject to a 180 days lock-up, subject to Joint Global Coordinator waiver and customary exceptions.
MT
With the amount of volatility attached to this share, a book build is a simple way of getting stock sold transparently. Imagine if this was simply sold on the open market “institution dumping £30 million, what must they know = panic = shorter heaven”. Agree would have been nice to do this two weeks ago, but a different lender may have changed position. For those interested, shorttracker now show about a dozen socks being shorted more heavily that NMC.
Some interesting comments guys & girls - still for me you have to think this is fishy. Yet again some Middle East loans being backed off by shares which then get shipped via acclerated bookbuilds - can't determine who where how or why, but it stinks IMOH. Can't say this is regular practice for a FTSE100 listing.
Still, just makes it more fun to ride up & down eh ?
Being totally honest, This was not the news I was hoping for or expecting The 2 owners who sold last time have a stake in infinite Investment LLC and tommy my mind they are selling out of stake they own to still to settle debts.
Don’t understand why this could not have been done together as part of original bookbuild exercise,and doing this again so close behind th least one gives the impression the BoD are scrambling around here to get there debt and cash positions in order and cleaning out all the cr@p,they have around governance and and skeletons in closet around debt as part of Indy review
Friday will be dejavu with sp going through the same share price behaviuor as last bookbuild and I see this easily going sub 13 and maybe sub 12 tomorrow. This probably now also also why share buyback has stopped.
I wander if this going to be oversubscribed this time and gobbled up again by the likes of Capital Group and Goldman’s. If the investment houses manage to pick up this bookbuild offer we are in the sophisticated traders hands as how they play around with this sp over next few weeks.
Just got to for a big short close tomorrow following initial spike down
Based on this my prediction for Feb 28 is 14.50
Well, here's what I think. 33mil shares commanded a 19%, 2mil shares will at the most get 8% of 19% = 1.2% (roughly speaking). That is, if any discount was to be offered. I think we may actually go up tomorrow, as cat is out of the bag and it's not a massively nasty cat at all. All the Best
No harm in noting that NMC finished flat today, relative to the ftse100 having a shocking day. Someone is buying!! Expectation of a similar day tomorrow anyone???
seems the market ate Q up alive ,,,
The last book build we had we closed at £14.94 and went as low as £12. Before the rise back up. That was for 31 million shares being sold. Approx £373million in proceeds.
This book build we’ve closed at £14.04 and are selling 2,163,850 ordinary shares. The market will eat these up alive if they’re for £12s also.
MT
Not a sale by major shareholders. Additionally it’s pretty small at £30mill relative to the other one. No idea what will happen in the morning! Suspect it’s going to be higher than £12 though in view of the amount and done this way to avoid volatility risk.
Or is it accumulation of shares by the big institutions. We’ll know more by first thing tomorrow morning. The institutions are not stupid to buy 2,163,850, 1.04% of issued share capital. Don’t forget we’ve had this before and the book build was for 31 million shares!!!! MT
I dumped 70% of my stock at 1395 today (for a little profit). Had a feeling it would be cheaper tomorrow! Wished i sold the lot though!
Not again. It’s like a hot potato
another 1% of the shares to be dumped via bookbuild - and again to repay loans. In truth not sure what to make of this - key will be the price that they agree in the bookbuild process, and who the buyer(s) is/are.