Asian Pay Television Trust (APTT)

[KopiKat]

Stabilising Action
10,000,000 @ $0.92 to $0.955

[felixleong]

opened below 90 cents, lousy counter, sell down, gg

[CY09]

I doubt it will close below 90 cents as stabilising agent will have to do their job

[Temperament]

What is the "lock-up" period for main shareholders? After the "lock-up" period, then we will usually see the real "stabilising" prices. 30 days or more?

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@ 90 cents seem to be the stabilising price now. Wonder what is the lowest supporting price. Who like to "Tikum"?

[lonewolf]

From the prospectus, the Lock-Up Period for Sponsor is 180 days.

There's no mention of the any lock-up period for the cornerstone investors; so we will have to wait for SGX announcement to see if they have been in the market.

[KopiKat]

From the prospectus, the Lock-Up Period for Sponsor is 180 days.

There's no mention of the any lock-up period for the cornerstone investors; so we will have to wait for SGX announcement to see if they have been in the market.

If I'd recorded correctly, only one cornerstone, EastSpring (Prudential co.) has a substantial stake of 6.4%. For the rest, we'll not know if they do sell...

In recent times, I noticed that altho' the Biz Trust IPOs may have numerous cornerstone investors, at most only 1-2 will hold a >5% stake. Either it's so hot that they'd been alloted only a non-substantial % or they prefer it that way so that they can easily turn short term without getting any unfavourable attention, esp. if they also happen to be Value kind of funds...

[lonewolf]

Very good point.

Still the cornerstone investors hold 361,531,914 units or 24%. There are 8 cornerstone investors (excluding EastSpring); so each on average held 3% or 45+ million units. That is still quite substantial enough to create a selling overhung.

[greengiraffe]

Very good point.

Still the cornerstone investors hold 361,531,914 units or 24%. There are 8 cornerstone investors (excluding EastSpring); so each on average held 3% or 45+ million units. That is still quite substantial enough to create a selling overhung.

They have $ to be wrong term... let them be...

[lonewolf]

Stabilising Action Day 3 (May 31)

2,265,000 units purchased at $0.915 to $0.935

[KopiKat]

Stabilising Action Day 2

2,265,000 units purchased at $0.915 to $0.935

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.