I think management will be questioning the float organisers - JPEquities (check their website) I think they timed it perfectly to follow the much better long-term managed (at this stage) CDC. But they tightly held to such a point that the secondary market or buyers have been selling attracting out other original IPO shareholders who would of been long-term shareholders. Whereas CDC have given everyone a bit of the pfofits and subsequently have further acquisitions whereby cash and script are being used because the new vendors are happy to take script. ABC have managed there business magnificntly and are obviously the leaders.
I believe from (SMH) reports earlier a lot purchased in the 1.17 area on average. The selling volume has been steady for a few days so a lot of these and 1.40 buyers are out plus a lot of orginal IPO holders who sold on the downtrend.
Did a bit of dollar-cost averaging. I still like the industry
Macro- level Right timing Wrong stock (Dow was up 1000 since purchasing)
Micro-Level Right stock Wrong timing
Consolidation will continue to occur.
Peppercorn
Hutchisons
Its defensive, local and government annuities and has consolidation growth potential.
The more selling at these levels the better. I think management will review there corporate advice as they need future acquisitions to be valued appropriately and the script component to be tightly held.
