They just want to maintain the price at current level only. No intention to push higher because if the price is too high no buyer will show interest in their private placement.
hmmn the higher of market price, is attracting shareholder to subscribe wat ? private placement at RM0.05 per share , if the market price increase why no 1 not willing to buy at 5 cents?
FLONIC HI-TEC BHD (FLONIC OR COMPANY) PROPOSED PRIVATE PLACEMENT OF UP TO 34,994,493 NEW ORDINARY SHARES OF RM0.05 EACH IN FLONIC TO INDEPENDENT THIRD PARTY INVESTOR(S) TO BE IDENTIFIED ON THE ACE MARKET OF BURSA MALAYSIA SECURITIES BERHAD (PROPOSED PRIVATE PLACEMENT)
Jesaolim84, they need 5 days market average price to determine the price for private placement. If the market price is too high then the placement price is too high. If not mistaken they cannt give too much discount on that price, so hard to get buyer to buy.
Here's my 2cents: I reckon that the private placement will be accepted well by either existing shareholders or new. Chances are it may be Tan Chong's + Savy Ndran :-) I suspect that the new ventures will have something to do with the O&G industry....would it be linked with Perisai/Hibiscus/SapuraKencana? Lets wait and see...
1) Read below PP arrangement on ACE rules as in Flonic's announcement:-
"""Placement arrangement The Placement Shares are proposed to be placed out to independent third party investor(s) to be identified at a later date. In accordance with Rule 6.05(c) of the ACE Market Listing Requirements of Bursa Malaysia Securities Berhad (“Bursa Securities”), the Placement Shares will not be placed to the following parties: (i) directors, major shareholders, chief executive of the Company or interested person connected with such directors, major shareholders or chief executive; and (ii) nominee corporations, unless the names of the ultimate beneficiaries are disclosed. Depending on the investors’ interest at the point of implementation, the Proposed Private Placement may be implemented in tranches within six (6) months from the date of approval of Bursa Securities for the Proposed Private Placement or any extended period as may be approved by Bursa Securities. As such, there may be several price fixing dates depending on the number of tranches and timing of implementation."""
2. Me reckon the 'others not connected' parties are already ready to pick up the allocation - it's a matter of the price...so...what price? Hee..Hee....as in my earlier postings SABAR SABAR.
3. Finally, my heart and my head is not good..too much external headwinds, budget, USA shutdown, financial crisis, SERSOL (*@#$%^)price crisis etc etc...so I am out from all except for...hee ...hee, sabar, sabar.
Certainly hope no drop further. Stable o.k with me. B'cos of external US factor...blah blah blah. Sold all others past 2 wks(TA, Mudajy, TMS, Insas, Instac, Iris etc with loss and gains to keep cash and too busy lately travelling to monitor. But I like Flonic cos' seems all going well, very well so far..hee..hee. Personally, I still keep with patience. Good luck to all.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Shareholderz
400 posts
Posted by Shareholderz > 2013-10-10 14:05 | Report Abuse
hmm better monitor abit first before buying