Blumont

[cfa]

Even Chairman , CEO and ID also offloaded big time .

[mulyc]

Note that these are forced-sellings. They weren't voluntarily offloaded. It was reported that this was a result of their highly collateralized loans, so it means they are losing alot of money too. The actual big winners are the ones who short-sell all these stocks via the CFDs with those offshore brokers.

[kbl]

http://www.theedgemalaysia.com/in-the-ed...-down.html

<not vested>
<not a call to buy or sell>

[mulyc]

Well somebody definitely knew something before anyone else did...

[valueinvestor]

Note that these are forced-sellings. They weren't voluntarily offloaded. It was reported that this was a result of their highly collateralized loans, so it means they are losing alot of money too. The actual big winners are the ones who short-sell all these stocks via the CFDs with those offshore brokers.

They lose alot ? Their costs of shares only few cents.

[mulyc]

Yeah, that would be loss of potential profits for them, which is quite substantial.

[Behappyalways]

What shall I do with my Blumont shares ?......Can I buy Blumont shares at the current level - the downside seems to be limited.....how did I try and answer these two questions

http://www.nracapital.com/Research/KevinBlog/751

[CityFarmer]

Update on the company...

(not vested)

Blumont says secured $248 mil in new funds from US investment firm

Singapore-listed Blumont Group, which has lost more than US$5 billion ($6.2 billion) in market value this month, said it has secured US$200 million ($248 million) in new funding from New York-based investment firm Platinum Partners.

Blumont, one of three Singapore-listed stocks subject to trading restrictions after a sudden plunge in their share prices recently, said late on Thursday that Platinum will subscribe to convertible bonds issued by the group.

Blumont will in turn use part of the proceeds to buy US$100 million of convertible bonds in Australian copper miner Discovery Metals. The rest of the funds will be used to finance future investments in the mineral and energy resources sector and for working capital, the Singapore-listed group said.

The funding from Platinum will ease concerns about Blumont’s planned commitment in the Brisbane-based copper miner. Shares in Discovery Metals rose 13.3% to A$0.085 in Sydney trading on Friday.
...
http://www.theedgesingapore.com/the-dail...-firm.html

[mulyc]

That's a good way to look at it:

1) wait till next tuesday when the market gets flooded with even more shares
2) wait till SGX removes the designated securities tag

[NTL]

How about :

3) Wait till the banks stop selling the directors shares?