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Primary Bid don't do ISAs or SIPP transfers
Just seen this now.
Poor to very poor issue price.. incredibly short notice... and with very few existing PI shareholders already on Primary Bid, I'd expect, which, including getting set up, makes it doubly tricky for them to participate in this ..ie few will
premeditated by PL no doubt..
(Why not do it through regular Corporate action raise channels with existing retail brokers .. they have the time to this if they chose ?)
PL is happy to get a bunch of new PI's involved here, I'd offer.. good in some ways eg expand PI footprint in terms of numbers of them holding at least...but bad in others eg plenty will be a bunch of short term 'flippers', I'd guess.. and he's far more interested in II's generally now anyway, seemingly … but that's a double edged sword ...as it's PI's trading that has a big impact on price movements in illiquid names like PPC..
You don't even know how many shares will be issued
Well if its anything like ORPH placing (which used primary bid) then you'll lose big time if you sell on open (or at all). ORPH opened down 25%, hovered for like 30mins then started climbing, finished down 7%ish. Day after that was up well over 15%
Itll be down tomorrow all those thst have bought today will be selling the shares they hold now simple
Guys, I just bought £10k of the placing, well if I get it all/some of it. I dont know a lot about the company except that the Argentinian government has put a minimum cap at $45 per barrel. Which sounds good, plus the SP is at a very low price already. If I get the £10k placing - thoughts on potential SP on the 23rd June?
I have not been able to transfer shares from PrimaryBid to an ISA account - you would have to do a Bed & ISA once you have them in your account.
To bad they don't transfer it to SIPP/ISA.
Anyone has luck investing towards SIPP/ISA through primarybid website?
Thanks for your responses. I’ll be very happy to be proved wrong.
It’s highly unlikely the institutional buyer will flip. They will have done their due diligence and expect a good profit from where they have invested.
Correct me if I am wrong but wasn’t there a rumour that this maybe private. This is clearly not the case now which is good news for all investors.
Presumably this means a 25% dive in the sp on opening
Maybe but could be seen as big positive as reducing debt and big backer upping stake in the company.
Well worth signing up with PB if you like a flutter....quite a few offers coming through recently.... dipped toe in water with this one....
I applied for £8000 for a different share last week. No restriction. They will close early if they get too much demand.
The £20 is for costs but no stamp. However, if u intend to do lots of PB placings broker share deal active dont charge. I have an account with them just for PB.
Presumably this means a 25% dive in the sp on opening tomorrow.
how many shares need to be issued to fulfil the requirements
yes I have just placed my request for shares using primary bid . but it is not easy i don't think the website is very good at all I missed out on ORPH and was well hacked off and had to phone in to get my registration completed , and then today it kept saying that I had input the wrong date for my debit card.
But I got in , i just hope now that I get the amount that I requested
The £20 is only an admin/issuance of the shares fee, I have used Primary Bid before, they are very good. The tricky bit is registering, but once you are set-up it’s easy after that, you get notifications of lots of discounted offerings.
Funnily enough I sold all my PPC today and have bought back via primary bid tonight. hmmm. Amazing what advice you can read on twitter.
I could sign up but they want £20 settlement fee!
If like me, you will get an email soon confirming your eligibility
Smoggypete, I had exactly the same problem when I tried to register when the TRX offer was made. They eventually accepted my application after doing a manual check days later, which was too late. I too was far from happy at the time!
I guess trafigura like what they see ,
Anyone managed to pass the eligibility questionnaire for PrimaryBid. I thought I had a reasonable level of investment nouse and answered honestly but failed so I can't apply for the offer. Not happy.