buying at 30 cents, page-13

So far, 3.7 million shares sold in the last week ... which is more than in the last month!

So, one of the larger institutional holders is exiting. Which one? Dont know!

Satelite India has about 4 million, so it could be them, or more likely HSBC(Aust) selling some of their holdings they own over 20 million though! Or is it someone else.

Dont really know.

The fact that the offers disappear after close means nothing, they will probably re-appear next trading day.

I actually see this as a positive.

Firstly, it is distressed selling IMO. They need their cash.
Second, There is shocking liquidity with GNM, with the parent owning so much stock. So while the seller is happy to exit around 30 cents, someone is buying everyday at these prices.

My guess is that Indian retail investors are lining up at these prices, hopefully some Aussie investors too. If that is the case we should see some intersting action after the "sale" is over, with hopefully many more investors on the register, and slightly improved liquidity.

Until then its a wait & see game

cheers