The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
If we received an email saying that we have been allocated shares of 120p and it’s due on the 23rd of June then this will be the second placing am I right? And this is subject to approval in the agm so we are not guaranteed these?
That is correct, because the second share placing of £8m hadn’t been previously approved. I would be surprised if it didn’t go through however.
I've been allocated shares ?
I’m hoping it is approved, I can’t invest anymore until then and the price might be above 200p by that time which would have been a bad decision to subscribe to those shares if I don’t get them yikes
Just spoke with my broker - People who bought direct with Primary Bid got 100% allocation, people who bought via brokers were allocated 33.6%! That stinks!
finnCap is an investor in Primary Bid, so not surprising. More AIM market shenanigans of city boys lining their own pockets.
AJ Bell told me when I rang yesterday that they could only be applied for through PrimaryBid. I had issues with the PrimaryBid platform which meant I missed out which is pretty frustrating. But why would Bell say they couldn't execute an order ?? Did PrimaryBid only open it up for certain brokers or are AJ Bell useless ?? Or is the bit about getting through brokers just hearsay ??
I had the same answer from AJ Bell as you did. The chap I spoke with said that as PrimaryBid is another platform, not a broker, I would have to go directly to them. A rival, in other words. I first tried to get some shares through the Subscription part of the Offering, but he told me that was for invited investors and IIs only. Not retail.
Looks like HL have a 'back office integration' with Primary Bid, perhaps AJ Bell do not. Just confirmed with HL that the allocation is 33.65% for all of their PIs. Despite their protestations with Primary Bid this morning there has been no change, they are clearly very frustrated.
Not impressed with PrimaryBid. Terry gave up answering the phones yesterday morning, after being rude to those that did get through. Then they stitch up investors who've got the audacity to apply via their own brokers (I guess PB are peeved that they missed out on the £20 fee). To say they are the chosen agent for these placings, then you'd think they'd actually be geared up to handle things efficiently
I managed to get my full placement through PrimaryBid.
I’m not a broker and very much a newbie just started doing this during Lockdown.
Earlier this week I admit to panicking, I’m also in Novacyt!! - so outcome was that I was looking at a fairly big loss.
I’m feeling grateful to have managed to get the my full placement.
In terms of PrimaryBid they’re really helpful, I had to call them few times yesterday due to a few technical issues.
Best to set you account up early with NI number and everything in place.
GLA
GLA
And as for being another platform then I think that's stretching the truth a bit. They're simply a portal for London Stock exchange. It's not like you can hold products with them.......
Agree Galactico. I don't doubt lots of news over the coming weeks, but when all these 1.20 shares are settled on the 25th I expect we'll see a significant sell off.
on Primary bid. My payment kept failing, no idea why and then all the shares were gone! annoying to say the least
It was the set up that was the issue Jasper. I entered my details (everything correct) but they then decided they couldn't 'verify' them. Tried again to be told you only get one stab at it. tried to ring only to be told I could only leave a message. I emailed and got a nice reply at about 5pm confirming the details I'd entered were fine and my account could now be used. Only about 8hours too late :-(
It would be nice, seethreeIPO, if Avacta timed a nice little positive RNS for, say the 26th, just after the £1.20 lot have bailed out ?? Just a thought ....
That would be nice, but to be honest I don't think they're that inclined to 'time' their RNSs as we've seen so far. There's no question that an additional 48 Million shares hitting the market, at 120 will have a negative effect on the SP. I have a feeling all the good news will come before then, setting up people for one hell of a spiking!
seethreeIPO,
Are you for real?
So you expect ALL 48 million shares to be flooding the market on the 10th? Not just the (undisclosed) amount going retail to PrimaryBid, but from the various IIs including the new strategic US investor.
What a load of cobblers. Another for the filter list.
O&W if you've filtered me already fine, as you can see from my posting history I am a significant holder here. Sorry my thoughts don't align with yours, but that's my concern yes. If we have significant news between now and then, and the SP is at say around 300p, that's a significant and very easy profit to take. The II's will have much more modest profit targets than most PIs!!
Not sure why people always assume this for placings.... the market always absorbs it on or around the days of placing announcement NOT admission, otherwise why not just wait until admission date to buy? Then there's the small matter of strategic II's, forward selling, holders etc etc
Terrible post not sure why I bothered tbh
I would imagine if there is dumping for profit at that time as you say, they will be snapped up pretty quick if the news flow goes as I suspect, and ill also add if its rising strong on that date I cant imagine any sensible institutional dumping quick imop
Guys I really hope so! However with recent insider trading I just don't have much faith in logic.
Hey Mikey, I don't always assume this for placing, I actually bought more shares yesterday as well as my Primary Bid subscription. You can't honestly be trying to say that it will be good for the SP though right???
I had issues registering with Primary Bid for Open Orph and missed out. However, now i am registered i get a regular alert on email of any primary bid placing and it is linked to my sharedealing account (with EQI). So although it is a bit of an initial faff once you are registered it is very easy - I got my allocation yesterday.
Last night I got an email alert for a placing for SOLGOLD, didnt buy (got to stop spending cash at some point!) but it is useful to get the emails so you can see the discount level and decide if you want to jump in.
I would recommend anyone just to register now for future (and not just avacata) placings as it you will see placings that are in companies you may not be aware of and can decide if they are worth a trade based on discount or investment at a lower entry point - obviously DYOR
A lot of time was wasted on the “when the placing shares come to market” de ramping after the 18p placing ... look how that went.