Bought before share consolidation cannot sell today? What will happen if can only selling tmr, the number of shares will be reduced again? So confusing :(
Unless you are part of the syndicate or the sponsors, people should get a grip of reality. With at least 2.6b of shares outstanding by February 2020, do you think the share price can be sustained at 40-60sen? Or even more at RM1.75? In which universe should Icon be a >>RM1 billion market cap company?
@newbie5354_ OR can fetch 0.005 or 0.01 tomorrow Mabel agree? Why roslaom post at 12.38 am today?
roslaom Icon rights is renounceable. U can sell from 24/1 to 3/2. After that no more. 20/2 subscribed rights listed as ordinary icon shares.
icon rights could be rm 0.005 to 0.01 only. 23/01/2020 12:38 AM
I have been asking the same question since yesterday. I spoke to my IB, they also don't have a clue.
As Mummy said, never listen to strangers...
Let's explore this together, I'm as curious as you on this.
One thing I can tell you is when Serba Dinamik did their Bonus Issues and RI, the warrant price open at 39 cents that it shoot up to 60 cents before stabilizing to 40 plus. Serba warrant can easiily fetch more then RM 1. I'm still holding both Serba mother and the warrant .
Let's wait and listen more. If anyone knows more about do share it here too as I'm expecting something similar here.
if you buy now, u make yourself in risk situation, highest for today is 0.72. Can’t go further. Tomorrow probably will down all the way together with OR
Yesterday closed 0.415 not limit at 0.42, today's highest until 9.51 is 0.715, why ? Because 2 limit consecutively, the counter becomes designated. All the plans will be disrupted.
You always come whenever any stock shoot up...that means you also can smell money...
All I can say it's too early to make any judgement on Icon. One thing is clear is that those that bought before and after ex date has made their Angpow plus more bonus coming in with the right issues plus the free warrant.
If you want to know more, please scroll up what we have been discussing.
Of course, the share holders can choose if they want to accept or reject the offer. It's everyone call. Everyone has the opportunity to assess and decide and they gave existing shareholders ample time to decide.
One thing I'm very clear, is that the real loser will be the one who has missed this opportunity. As far as I'm concerned, I have taken my profits from my non Right issue shares. Look at Kingston 1, he just rewarded himself with a nice SLK.
I will definitely subscribe to the right issues as I believe its very attractive with the free warrant plus the potential price it may end up with. So far the Icon deal has been very good for me. I have very good experience with Serba and La Farge so I'm willing to go all the way..
Remember Greatec?
If you listen to me you could have made more money. Greatec has been one of my best investment.
Always think of the big picture. Trading is just a small agenda to spice up our journey. if we can make money along the way that will be more fun.
Along the way, if Icon is not meeting our business plan objectives, just cut our losses and move on as the opportunities are still hugh.
The company has a market cap of about RM40m before the consolidation. New money raised is about RM275m. Let's ignore the warrants for a moment. With a share base of 2,641m, the share price should be around (275+40)/2641 = RM0.12. Consolidation is a paper exercise and should not affect the value of the company.
I still thinking to subscribe or not, after calculation, if its mother share price can maintain over rm0.5, most likely will make gain after rights subscription
Posted by ferdtwh > Jan 23, 2020 10:10 AM | Report Abuse
I still thinking to subscribe or not, after calculation, if its mother share price can maintain over rm0.5, most likely will make gain after rights subscription
yr cost of rights is only 0.105...u only most likely can make money if mother above 0.50 ah?????
They can have few plans depending on the actions of the retailers. If 25 % of 23 millions shares are in the hands of the retailers = 5.75 millions shares after consolidation. Or forms allotted to the retailers = 5.75 millions x 100 = 575 millions. Assuming only 10 % of 23 millions = 2.3 m. The OR forms allotted to the retailers = 2.3 m x 100 = 230 millions.
We won't know theil plans. They can maintain icon 23 millions shares price above 0.40, and sapu all the 10 % ( 230 m) OR forms from the retailers say on average of 20 sen ( only 46 m ) . After all the right issue listed, they can distribute back a lot of the shares from above 0.40 all the way down back to 0.10 if ICON can not perform like THHEAVY since 2014.
this kind of arrangement trap people. look, u consolidate, the share become lesser but value didn't x50, so people not dare to selling the share now and will keep. less selling mean more buying and share will move up. then the icon-or also will reflected base on mother. such a nice trick.
It is all depend on the actions of the retailers. This right issue restructuring plan will not increase Icon's profits overnight or in a short period. If all the retailers owned only 10 % of the 23 millions shares, and they sapu all at average of 0.30, total they paid = 0.3 x 2.3m = RM 690k only Plus all the OR forms at average 0.15. Total they paid = 230 m x 0.15 = 34 million only. When right issue shares listed, they slowly distribute 1 billion shares back to the retailers at 0.40 to 0.20, they can take back more than 200 millions. On the other way, they can maintain the 33 millions shares price until 3 Feb and distribute the OR FORMS to the retailers. Anyway the retailers have to be careful.
my prediction is they purposely push mother share to high price,so even limit down tomorrow still have at least 30 cents,then to attract/trap people buy rights shares,then from there they can sell it at high price. But please remember right shares trade for 5 days,it probably will become 0.005 at last day of the trading and mother share price drop back to 10 cents. Question in my mind is why they can issue a 1 existing share for 2 rights shares for simple way,than they consolidate 50 to 1 and give 100 rights from 1 share after consolidation?
I couldn't as my average price was 0.4x , trapped last time, if I subscribe the rights, average price would be around 0.3x, if mother shares dropped below 0.3, sayonara
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Posted by sophiasophia > 2020-01-23 09:34 | Report Abuse
Bought before share consolidation cannot sell today? What will happen if can only selling tmr, the number of shares will be reduced again? So confusing :(