ASX Shares Platinum IPO

Simon

That's very disappointing. However, let's strip away the emotion. We're you investing just to stag it substantially and flog or you investing believing this was a company worth investing in for the long term?

If it's the later (but of course hoping for a big stag unrealised gain of course) then you should try to get some more (if available at a reasonable price) on listing.

Whilst it's impossible to do entirely, we should try to separate emotion from investment decisions. Or at least that's the theory...

Cheers
N.

 

Would appear that through comsec I received the full 4000 allocation twice

So happy with that result. Mind you the letter says sorry about allocation (must be standard letter) and then still fully allocated. I haven't seen the letter yet but bookeeper just read it for me.

My 3rd application was through Platinum direct as a fund holder. In this case I applied for 25000 and received 4880 instead. Seems like the allocation have no rhyme or reason. Have only been a Platinum fund holder for 2 years with a balance of $150k.

Simon - How did you apply for the $50k allocation?

Cheers

 

Through Leveraged Equities. Because the Platinum Shares are held by them the application also had to go via them.

Sounds like it is their fault

 

Hi Sim,

I love those colorful charts!

What international fund is doing well? It would seem that most of them have returned average results over the last 12 months, so you can't say that platinum has performed poorly. Compared to their peers, they are around the money..

And I think it would be silly to invest into a booming market, like the ASX because the last 12 months was going gangbusters.

1 rule of investing, do the opposite to what the market is doing.. and right now you should be reducing exposure to booming markets, and investing the the 'out of flavor' sectors, ie international funds.

To me, it would seem we have Platinum on sale, so why would you not buy it? If milk is on sale at your local general store, are you going to say, I don't want any because the price is cheap, and then come back next week when the price runs and then say, gee, milk is going up, I better buy some up?

Tom.

 

I'm not saying that you buy something just because its cheap, but certainly you need to find something out of flavour.

So are you invested OS at the moment? or are you exposed to ASX only?

The problem with what your doing, is when you relise the tide has turned, usally the horse bolts and by the time you get out, the market has dropped 10%.. remember there is a old saying, the market goes up the stair case, but down the elevator.

I would be concerned about what the market will do come july 1, when all this super money stops flowing in..

When the dot.com crash happened, everyone still in was caught with their pants down... lets hope the same doesn't happen to zinc.com!

 

Received in the mail today letters from Platinum (proforma signed by Kerr Neilson) confirming what Comsec told me about our allocations - 2,000 PTM shares for each of 3 Comsec accounts (one filled as applied, and 2 got scaled back from 4,000 to 2,000).

 

1 rule of investing, do the opposite to what the market is doing.. and right now you should be reducing exposure to booming markets, and investing the the 'out of flavor' sectors, ie international funds.


Amazing rule !!!!!!!
AGAIN - are you a taxi driver or maybe you are a Kamikaze pilot ?
Interesting info is here: How to Fail As a Trader in 10 Easy Steps

 

Leveraged Equities - ??/

Hi All,
Thought i would update for those having funds in Leveraged Equities. The majority of my application $$$ for the upcoming float has be put back into my account tonight. I applied for $60,000 worth of shares and it appears i have been allocated the grand total of.... wait for it.... $2,000.

Would have got a much higher allocation had i held the funds directly and not with a margin provider... Pity the Margin Lenders couldn't get their act together with Platinum and sort out a fair way to get their clients access to the float. Very poor form in my opinion.

400 ($2000) shares are not even worth holding and the brokerage to sell them will probably cancel out any profit.

"Not Happy Jan!"


DaveJ


P.S. Would be interested to hear what others in Leveraged Equites have been allocated?

 

Hey guys,

Before you spit the dummy, margin lenders and platforms (BT et. al.) were originally going to get no allocation at all. Taking that into consideration, the amount they got would have been very minimal. Frankly you're lucky that you got anything.

Couple that with the fact that this issue was going to be waaaaaaaaaay over subscribed as it was, I think you got a fair deal. Way back even before these guys got shares, people were already tipping that the allocations would be halved at best.

Mark

 

That's ok then - thanks Mark

 

Actually this float was for "Loyal" clients to be rewarded through a restricted float. The fact that Platinum and the Margin lenders/Wraps etc couldn't sort this will leave a very sour taste in a lot of peoples mouths i think...

To say that we should be grateful to get anything is missing the point. I don't think i am lucky to get 400 shares.... Its a waste of time and an pathetic way to reward their clients.

For those comsec customers who didn't even have to have Platinum funds, well done on the $10k allocations? Does that make sense to you MarK?


Of course my opinion only...

 

dont be greedy!

I'm lucky to have $12000 worth!

Are people going to sell their holdings on day one for a quick profit, or are they going to keep this stock for the long hurl? Or keep it for 12 months for CGT discount?

 

I agree ...

 

Email I just sent to Platinum

Well I vented and doubt it will do much good but it did make me feel a bit better.

Let you know if I get a reply - be surprised if I do, but some office lackey might spend a minute jotting back some ******** about complex allocation formulas, over subscription etc

I am a unit holder in the Platinum International Fund.

I recently heard of the Platinum Float and sought to apply for shares. Because my shares were held via my margin lender I was informed that there was to be no allocation. I found this particularly unfair as I considered myself as much a unit holder as anyone else.

My margin lender later contacted me and advised that I could apply after all so I completed their form and requested $50 000 worth and forwarded the funds.

I have received an allocation of 400 shares or $2 000 worth. I consider this paltry amount to be hardly worth holding. I feel that this was given out to appease our earlier complaints of being overlooked because we hold our units via a margin lender.

I knew the float to be oversubscribed and didn't expect to get the full $50 000 worth. But $2 000 is an insult especially considering non unitholders were allocated far higher amounts. I have recently been discussing this with investing colleagues who advised me that they had received 6 000, 12 880 and 8 000 etc shares via Comsec. The real kicker is that some of them did not even hold any units in your investment funds.

No doubt there is some commercial reason why this decision was taken. But I am not such a sophisticated investor to understand how this all works nor, quite frankly, do I care.

For me it boils down to an obvious unfairness which has seen me, a unitholder, disadvantaged compared to non unit holders.

Based on the response to this email I will be making a decion whether to sell my unitholdings or retain them. That kneejerk decision probably does not make economic sense but I do refuse to deal with anyone that I feel has treated me shabbily.

Sincerely,

Simon