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Gold/Mining/Energy : TS TELECOM (www.tstelecom.com): ASPIRING TELECO

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To: Ciao who wrote (903)11/22/1999 7:31:00 PM
From: speculatingvalue  Read Replies (3) of 1762
 
If my calculations are right and TOM holds $2.62 per share of 8003, then the market is extremely inefficient.

Why would anyone participate in the 8003 IPO at $1.50 HK when they can buy the same thing for 68.7 cents by purchasing TOM? (1.20 / 2.62 * 1.50)

Something doesn't add up. Either there is a huge arbitrage opportunity or I'm missing some information. Is it possible that TOM is holding back less than 70%? That would explain the discrepency.
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