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(31-05-2013, 06:24 PM)KopiKat Wrote: That's Day 3. I didn't see any for Day 2 (30-May).
An interesting substantial shareholder SGX Annc by Morgan Stanley where on 29-May, their deemed interest increased from 8,867,747 (0.6172%) to 159,447,515 (11.0974%). Have not checked if they're related to any interested parties eg. Stabilising Mgr / Underwriter for this IPO.
Thanks! Corrected my post.
The other 'Morgan' ie. JP Morgan is the joint underwriter and stabilising manager.
Maybe Morgan Stanley got the shares through it custody and nominee accounts? Are those considered deemed interest? They do right since I always see it popping up in top 20 shareholders statistics.
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(31-05-2013, 08:43 PM)lonewolf Wrote: (31-05-2013, 06:24 PM)KopiKat Wrote: That's Day 3. I didn't see any for Day 2 (30-May).
An interesting substantial shareholder SGX Annc by Morgan Stanley where on 29-May, their deemed interest increased from 8,867,747 (0.6172%) to 159,447,515 (11.0974%). Have not checked if they're related to any interested parties eg. Stabilising Mgr / Underwriter for this IPO.
Thanks! Corrected my post.
The other 'Morgan' ie. JP Morgan is the joint underwriter and stabilising manager.
Maybe Morgan Stanley got the shares through it custody and nominee accounts? Are those considered deemed interest? They do right since I always see it popping up in top 20 shareholders statistics.
Most likely you're right, although that SGX Annc didn't provide that info.
Credit Suisse did provide such info in their SGX Annc on 1-Jun where their deemed interest increased from 0% to 7.6022% on 29-May. Extracts,
The initial 109,228,408 units holding originated from the successful allotment into Clients' accounts during the initial public offering. In the provision of prime brokerage services to the beneficial owners, CSGAG's subsidiaries have the rights of use of the units held and is therefore, deemed to have an interest in such units.
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Stabilisating Action Day 4 (Jun3)
3,736,000 units purchased at $0.905 to $0.920.
Total units purchased to date:16,001,000
Total stabilising units left: 55,839,000
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Stabilisating Action Day 5 (Jun 4)
1,026,000 units purchased at $0.905 to $0.910.
Total units purchased to date: 17,027,000
Total stabilising units left: 54,813,000
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Since I'm spending so much time here, I decided to take a small short term tikam position @ $0.91. Am hoping that it's a special enough situation where many MIIF shareholders who'd opted for APTT shares are selling when they see mkt situation is weak (plus possibly private placees, IPO risk takers/bettors,...)... Am also betting that the new SGX Annc data on substantial shareholding (total ~34%) means liquidity is not overly too high. But, note that this includes those held by JPM (Stabilising Mgr) and for other 3 (Prudential, Morgan Stanley, Credit Suisse), many were from IPO and held as deemed interest, likely for their managed clients' accts. Will also be betting that $0.905 may be a "stabilised" price and Stabilising Mgr will try to push it towards IPO price within the constraints of their ammo levels which is kindly being monitored by 'lonewolf'...
Don't try this at home unless you're an experienced tikam-buddy... I'll not be posting updates after this... I'm doing it more for my own hands-on case study analysis... 
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(05-06-2013, 12:18 PM)KopiKat Wrote: Since I'm spending so much time here, I decided to take a small short term tikam position @ $0.91. Am hoping that it's a special enough situation where many MIIF shareholders who'd opted for APTT shares are selling when they see mkt situation is weak (plus possibly private placees, IPO risk takers/bettors,...)... Am also betting that the new SGX Annc data on substantial shareholding (total ~34%) means liquidity is not overly too high. But, note that this includes those held by JPM (Stabilising Mgr) and for other 3 (Prudential, Morgan Stanley, Credit Suisse), many were from IPO and held as deemed interest, likely for their managed clients' accts. Will also be betting that $0.905 may be a "stabilised" price and Stabilising Mgr will try to push it towards IPO price within the constraints of their ammo levels which is kindly being monitored by 'lonewolf'...
Don't try this at home unless you're an experienced tikam-buddy... I'll not be posting updates after this... I'm doing it more for my own hands-on case study analysis...
Wish you all the best... will not participant in this tikam, since i know nothing about the company... 
“夏则资皮，冬则资纱，旱则资船，水则资车” - 范蠡
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Asian Pay Television Trust - Can it ever make a profit with these interest and hedging costs?
http://sg.finance.yahoo.com/news/asian-p...00163.html
This is a very comprehensive analysis of the prospectus with good questions raised.
(Not Vested)
Disclaimer: Please feel free to correct any error in my post. I am not liable for anything. Do your own research and analysis. I do NOT give buy or sell calls and stock tips. Buy and sell at your risk. I am not a qualified financial adviser so I do not give any advice. The postings reflects my own personal thoughts which may or may not be accurate.
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(05-06-2013, 03:25 PM)Nick Wrote: Asian Pay Television Trust - Can it ever make a profit with these interest and hedging costs?
http://sg.finance.yahoo.com/news/asian-p...00163.html
This is a very comprehensive analysis of the prospectus with good questions raised.
(Not Vested)
Thanks for the link! It's always good to read analysis from Investor Central. It's indeed scary to go thro' the FY10-12 financial statements, as highlighted by that article. Fortunately for MIIF shareholders, TBC was still able to pay out decent dividends to MIIF? Perhaps a time bomb waiting to explode?? The Proforma ones for FY13-14 doesn't appear as scary and Investor Central didn't provide as many red flags. Still, only time will tell and for now, I don't have plan to be holding for the long term..
CityFarmer Wrote:Wish you all the best... will not participant in this tikam, since i know nothing about the company...
Thx! I just joined you for further tikam at F&N.. Wish us luck! 
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Stabilisating Action Day 6 (Jun 5)
500,000 units purchased at $0.910.
Total units purchased to date: 17,527,000
Total stabilising units left: 54,313,000
The no of units purchased by the stabilising manger has tapered off sharply. So I guess some semblance of normality has been achieved for now.
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(05-06-2013, 07:14 PM)lonewolf Wrote: Stabilisating Action Day 6 (Jun 5)
500,000 units purchased at $0.910.
Total units purchased to date: 17,527,000
Total stabilising units left: 54,313,000
The no of units purchased by the stabilising manger has tapered off sharply. So I guess some semblance of normality has been achieved for now.
When seen in the context of today's Vol = 8,807,000 ; Range = $0.905 ro $0.915 ; STI -47.92... I'm most surprised! Quite a few substantial shareholders SGX Annc for 3-Jun transactions with the fllwg changes : Prudential + ; Morgan Stanley - ; Credit Suisse - for a Nett - for these 3.
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