[890,000 shares]
hi steve,
thanks for posting the secondary stuff, the info is appreciated... looks like orctf seems to be holding around 18 or so (today notwithstanding...:), and while the secondary was not a resounding success, seems that orctf got their cash and the downside has been (relatively) limited ... and they must have really wanted it, to have gone forward with the conditions they were facing... whether this was a good move for them, guess time will tell..
>>Seems the market didn't care about the recent announcements<<
am inclined to agree... that there was a lot of the stock around is all the more remarkable considering that clal sucked up about a third of the offering all by themselves and another 855,000 shares or so out of the open market...
if my rough math is correct, clal now owns about 1.71 million of orctf shares ($32.3 million investment/$18.8 average price per share =1.71 m. shares)... they said they purchased approximately 1/2 in the secondary and 1/2 on the open market so..
the market only had to absorb about 890,000 shares ... (+2.6 secondary - 1.71 clal= .89) .... granted market conditions haven't been all that great, but would think less than a million shares should have been manageable particularly in the context of the story (i imagine) that orctf has to peddle... oh well...
have followed orctf pretty closely for over a year now and suspect that much of the orctf story is simply below the street's radar ... on the other hand, it may be me seeing more here than is actually the case... :)
on that note (projected optimism)... think orctf and partners have been underestimated (by press/analysts) on the silicon side... if they nail this next generation adsl, vdsl, hdsl2, they've got a great hand for 99 ... if not, well... the picture isn't quite so pretty..
>>Personally, I don't think Chris Crespi (one of BTAB's comm anaylsts) is all that plugged in.<<
on an orctf cc earlier this april he asked about orctf strategic partnerships for europe (whether there would be a one/one relationship like usa/fujitsu)... shlomi had explained the orctf european country-by-country stategy last dec...
is there an xdsl analyst you think is on top of it?
thanks again for the info
s
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