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True
It also means, like we didn't already know, that the placing was stupidly cheap.
You only have to look at the general level of discounts on primary bid, to see how over the top and unprecedented the 76% discount was.
Yes, private investors got 100% of what they requested in the £2m Primary Bids offering (provided they were able to apply in time).
But on the £12m placing there was huge demand from institutions, meaning people only got 25% of what they asked for.
This means there could still be large demand for shares.
Primarybid, asked for million got million.
Intrepid
I took part in the placing and was similarly scaled back due to large institutional demand.
Primary Bid allocations were 100% on a first come first served basis. Perhaps other are confusing the placing and the Primary Bid subscription.
apologies for grammar:
s/b 'whom I used' not 'who I used'.
Hi EmS138.
same response/question to you:
Figures are from my own experience. I won't give exact details as I don't want the broker who I used to identify me. I might not be using them again, if it appears I have been scaled back singularly.
Do you mind me asking what size did you apply for and which route/broker?
intrepid
Hi KeepInItReal,
Figures are from my own experience. I won't give exact details as I don't want the broker who I used to identify me. I might not be using them again, if it appears I have been scaled back singularly.
Do you mind me asking what size did you apply for and which route/broker?
intrepid
Intrepid 9:38
I took part and got my full allocation.
Where are you getting your 24% information from?
Intrepid - although I appreciate the sentiment of your post, and there was definitely high demand for the placing, I got my full allocation so your statement about retail investors being scaled back isn't correct.
Hi all.
Some of you on here will have taken part in the placing and will know this; for those of you who didn’t, retail investors have been scaled back to about 24% of the requested sums.
I think this was to ensure certain key institutional investors received their full (or near full) quotas.
Either way, the placing was massively oversubscribed. They requested £6m. Ended up taking £14.4m and RIs only received a quarter of what they requested- so unsatisfied demand of at least £6m at 0.25p placing price.
That placing price is equal to c. 0.345p post placing (pre-placing value + post placing funds divided by new total shares.
In other words, expect good support at 0.35p right now.
Cheers
Intrepid.
I'm still in XSG, TakeAimFire, because, as Jamboy10 has just posted, remember why you invested in the first place.
Agreed Stu, XSG did a Primary Bid on the 24th of April at 0.5
One month later they are trading at 1.25
I think everyone is quite calm and actually have sticky fingers and are invested for the sake and good will of this company. I personally thought it would be A lot worse than it is,and didn't take up the offer,time was against me but I will be buying more,yes I was raged this morning but as the days gone on and I've taken it all in I've remembered why I bought in originally. Gla
Thanks KJM100K. There weren't many calming words when I got back from my allotment last night and logged on here. Took a step back, a deep breath and worked it through this morning. Have a great weekend.
Stu , always value your calming words at times of immense turbulance , hoping the XSG comparison plays out for us all. Thank you
A lot will be buying at these prices to significantly lower their averages. Many longstanding shareholders maybe missed out on the placing yesterday. There will inevitably be a sell-off when the placing shares hit the market, but I trust a lot of them are in the hands of investors looking for a bigger return longer term. I cite XSG as an example of this. Following a very similar pattern. I hope today wasn't as painful as we maybe thought it would be. Stay safe and have a great Bank Holiday.
I’m a bit flummoxed by all the Buys. Even with a confident long term view there are so many that bought at 0.25 that will make a quick profit by selling on 10th June - that will lead to a drop and the price to converge to 0.25 then even if only For a few days. Amazed it’s holding up. Possibly factoring in the very small chance the old shareholders will reject the placing.
All these buys going in a sign of confidence in my opinion for the health of TRX going forward. Finance is place now to step us up to a >£100m MCap company. Dilution comes at price with placing but so would have private finance through a bank loan or similar. Now lets have the BoD give us all the growth, sales and profit the great tech and great products this market is craving. Stay strong and long on your TRX shares folk
"Flippin' eck, someone bought 10,000000 shares earlier.
Providing the trade chart is accurate of course ;-)
If it is, someone's VERY confident."
Maybe they set a limit order yesterday, and haven't looked back in since. Might be in for a shock!
I have just done a "bed & ISA" both at the same price - 0.446, so we don't know which are buys and which might be sells !!
£47,000 that is a serious sum of money......well to me it is, but then I still darn my socks.
I saw that one as well Ginaandmilk, that's a heavy investment the day after a raise at 0.25p, maybe they maxed out their entitlement and still wanted more, interesting move.
Flippin' eck, someone bought 10,000000 shares earlier.
Providing the trade chart is accurate of course ;-)
If it is, someone's VERY confident.