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Technology Stocks : Softbank Investment International (HK0648)
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To: ms.smartest.person who wrote (170)2/22/2000 8:36:00 PM
From: TobagoJack  Read Replies (1) of 615
 
What WWII bomb? My office is way high in Central, next to the police station, overlooking central proper and harboure beyond.

The subscription frenzy for Tom.com (Hutchison venture) is in full swing, with people in long long lines for IPO application outside bank offices 1.5 hours before opening. In HK, when you subscribe for an IPO, you pay over a check to the underwriters of the entire amount you want to buy, and they hold the money (cash the check) and earn interest until you get your allocation. In over subscription situations, all players gets trimmed back in proportion. The smaller subscribers may not get any shares allocated.

During the red chip frenzy days, 50% of HK money supply sometimes gets tied up in escrow deposit and the monetary authority had to release new cash. In such situations, traditional shares may do badly as punters liquidate to support the IPO bet.

The sale of 648 by owner is a requirement, else 648 would be delisted due to less than 30% float. They made enough money already and probably subscribed massively to Tom.com for the next act.

Taiwan? anything triggering a fall in HK shares would be a brilliant buying opportunity. If I were a believer of conspiracies, I would say China is trying to tank the market so 1186 can buy 8 at duper discount to true value.

For HK news, definitely go to www.scmp.com, the premier HK news site.
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