10-02-2011, 02:43 PM
There has been some recent developments with Eratat.
The placement has been rejected by SGX citing that the discount was more than 10% of the weighted average price on that day.
Did someone screw up somewhere?
Looking at the price history, Eratat was bumping along resistance @ 26c before a sudden selldown to 23.5c followed by a halt.
A placement was then announced at around 21.5c.
Share price then rose after trading resumed to bump around resistance again.
After the announcement of the rejected placement, the share price was then pushed down to 23.5c again.
Is CMIA trying to secure placement again at a lower price or is the stock being manipulated?
Still vested and curious to see how events will turn out. Results announcement is due soon and generally expected to be a positive one.
The placement has been rejected by SGX citing that the discount was more than 10% of the weighted average price on that day.
Did someone screw up somewhere?
Looking at the price history, Eratat was bumping along resistance @ 26c before a sudden selldown to 23.5c followed by a halt.
A placement was then announced at around 21.5c.
Share price then rose after trading resumed to bump around resistance again.
After the announcement of the rejected placement, the share price was then pushed down to 23.5c again.
Is CMIA trying to secure placement again at a lower price or is the stock being manipulated?
Still vested and curious to see how events will turn out. Results announcement is due soon and generally expected to be a positive one.