RE: um TR1..'s2 Jan 2018 22:09
Not the way I’ve read it Joe and let’s keep it real, do you honestly believe Morgan Stanley would take a placing of such size only to dump in the market at a loss days later? I wouldn’t and I am surprised that you would either.
Perhaps look at the registered location of the placee in relation to where the stock has been allocated. Imho the UK arm has taken the placing whilst the US has sold down its holding. Perhaps in reference to the below:
“The securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or with any securities regulatory authority of any state or other jurisdiction of the United States. The securities may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. There will be no public offer of the securities in the United States. The securities referred to herein have not been registered under the applicable securities laws of, Canada, Australia or Japan or and, subject to certain exceptions, may not be offered or sold within Canada, Australia or Japan or to any national, resident or citizen of Canada, Australia or Japan.”