For your information, I did not rush at all when posting my first post on MSB this morning. In fact, I opened all three announcements released this morning to find if there is any more information about the take up rate of institutional entitlement offer.
I couldn't find anything except the word "oversubscribed" in the media release.
I admit that I got confused and mixed the details between the institutional and the retail part of the offer. As we know, in the retail part, existing shareholders are given the opportunity to apply for additional shares. I somehow assumed that in the first stage of institutional offer, institutional shareholders can also apply for more than their entitlement.
When I make a mistake, I quickly admit it. What more do you expect from me?
As for my other points that you conveniently ignore, don't you agree with me that as a shareholder, you deserve to be more fully informed?
- Don't you want to know whether or not MSB major shareholders (Silviu, Teva, Celgene, MNK) took up their full entitlements?
- Don't you want to know the take up rate of the first stage of the Institutional Offer, in other words, how many shares ended up in the shortfall bookbuild (which we this morning just found out was oversubscribed)?
- Don't you agree that MSB communication skills could be much better? Just one word "oversubscribed" in this morning's announcement is enough to allay some of the concerns that was very prevalent yesterday. Yesterday a lot of people were concerned that Bell Potter ended up with lots of MSB shares which would become an overhang for some time.
Oh, and by the way please watch the share price, a much better guide on where this company is going, than what you are throwing around.
Sorry, I'm not going to follow your advice. For me, I will watch whether or not MSB is able to secure a partnership, either with MNK or someone else. I will also watch for the quality and the size of the partnership deal.
Inability to secure this speaks louder than all of their fluffed up announcements combined together.
I also believe this thing called luck. In life, one may have all the ingredients for a success ready, but without the crucial luck, he/she will still fail.
Similarly, MSB may have the best technology, the smartest researchers, the most number of Phase 3 products, but without a little bit of luck, all of these will still amount to nothing. In other words, MSB needs to be lucky to produce a truly successful trial and then be lucky to be noticed/appreciated by a big pharma partner who is well resourced to bring the products to commercialisation in terms that are still quite advantageous to MSB.
Your suggestion of watching the share price as a guide on where MSB is going, in my opinion, is a complete waste of time. But if you truly believe in it, then by all means, keep doing it. My capital is too precious to even contemplate following your advice.
MSB Price at posting:
$1.49 Sentiment: Sell Disclosure: Not Held
(20min delay)