Blumont

Holding cost is very low to the syndicates now, when costs getting higher, they will dump, but they have to come out with good stories to lure the man-in-the-street to rush in to buy and hold the baby.
We are in internet era, but there will still be suckers around, because there are new suckers born everyday.

Interesting... Are they desperate for fundings?

Quote:Mainboard-listed Blumont Group is planning to raise $43.05 million in a one-for-two rights issue, where it will issue 861 million new shares at five cents each.

The investment holding company will allocate one rights share for every two ordinary shares held by shareholders, it said in a statement on Tuesday.

The issue price has been set at five cents for each rights share, a discount of about 96.23 per cent to the volume-weighted average price of $1.327 per Blumont share on July 26.

The renounceable non-underwritten rights issue will raise net proceeds of about $42.67 million after expenses, Blumont said

Flying high today. Up 41 cts.

(18-09-2013, 05:15 PM)valueinvestor Wrote: Flying high today. Up 41 cts.

super stock... thanks to those who short. shortists.. once u stop shorting the rally may end. so just stay by sideline n watch don't short these kind of stocks.

everyday u go to sgx shorts list n u see blumont in the list... many shorts got short circuited here already.everyday shorts are forced to cover.

no need policeman, just need hold back your shorts.

Remind me of a film 'Overhead' cast by the trio Louis Koo, Daniel Wu, Sean Lau. In the film, one of the policemen bought a penny stock which ran up to about 3+ dollar ? in a matter of days.

This stock, latest price is 2+ dollar, from 1.5 cents about one and half year ago.

<not vested>

unbelievable...
is there something I have missed out on this gem? anyone care to shed some light?

Here is a hint on the run-up. What a hot stock.

Blumont calls trading halt after SGX query

Blumont Group has called for a trading halt of its shares this morning after receiving a query by the Singapore Exchange (SGX) over an unusually steep rise in its share price.

SGX’s market surveillance unit said Blumont’s share price has risen from $0.30 on Jan 2 to $2.45 on Sep 30. This is a eight-fold increase over only nine months since the beginning of January. In the same period, the market cap of Blumont has increased from $508 million to $6.3 billion. This is a 12.5-fold increase.

Since December 2012, Blumont made announcements on acquisitions and investments in nine companies, of which only small investments of under A$/US$10 million were made in six companies. Of the remaining investments, the highest involved a purchase consideration of up to $48 million. There was also another investment amounting to about A$8.76 million with a concurrent subscription of convertible bonds.

SGX, however, says these announcements may not sufficiently explain the steep increase in the price of Blumont shares.
http://www.theedgesingapore.com/the-dail...query.html#

(30-09-2013, 10:39 PM)pianist Wrote: unbelievable...
is there something I have missed out on this gem? anyone care to shed some light?

You missed out the suspension

Obviously you are lucky enough not to be hurt badly before

Basically, at a price of $2+, which company would issue 1-for-2 rights at 5c? Only Blumont can do it. last CR price $1.6, first XR price $1.9, for sure is manipulation + bubbles.

(01-10-2013, 03:04 PM)specuvestor Wrote:

(30-09-2013, 10:39 PM)pianist Wrote: unbelievable...
is there something I have missed out on this gem? anyone care to shed some light?

You missed out the suspension

Obviously you are lucky enough not to be hurt badly before

Is that so? I just read that a person becoms a millionaire with only 15K invested in Blumont...