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The [New Issues/IPO] thread - ENF $33.15, CVE $16

  • Last Updated:
  • Sep 20th, 2017 12:28 pm
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Deal Expert
Feb 11, 2009
15630 posts
1717 upvotes
Toronto
^CVE Is not an IPO it was a secondary offering, and like most secondary offerings, tends to tank. IPO's are a different beast.

Also Snap = Snapchat lol. It IPO'd at $17, and was at $23 up until earnings were reported haha.

To me IPO's are generally a quick flip, other than for Hydro One which I've been sitting on, selling occasionally. I clearly messed that up though.
Selling Grizzly Privy Maple Leafs - $33 ea - PM!
Deal Expert
Feb 11, 2009
15630 posts
1717 upvotes
Toronto
Real matters current bid and ask of $15.60 Smiling Face With Heart-shaped Eyes
Selling Grizzly Privy Maple Leafs - $33 ea - PM!
Deal Expert
Feb 11, 2009
15630 posts
1717 upvotes
Toronto
Yeah that was a little depressing. I had orders to sell everything at $15, and no fill Confused Face
Selling Grizzly Privy Maple Leafs - $33 ea - PM!
Deal Expert
Feb 11, 2009
15630 posts
1717 upvotes
Toronto
White Comet wrote:
May 11th, 2017 10:04 am
Added 600 more shares @$13.00
It's surprisingly very low volume.

Only 1.8M shares have traded so far and around 11.5M were sold in the IPO.

I'm holding on to everything for now
Selling Grizzly Privy Maple Leafs - $33 ea - PM!
Deal Expert
Feb 11, 2009
15630 posts
1717 upvotes
Toronto
White Comet wrote:
May 11th, 2017 10:04 am
Added 600 more shares @$13.00
Darn, keeps going lower....
Selling Grizzly Privy Maple Leafs - $33 ea - PM!
Sr. Member
Aug 17, 2008
524 posts
149 upvotes
Hydro One
Here comes the 22 handle. From the Globe and Mail.

TIM KILADZE AND JEFF LEWIS
TORONTO AND CALGARY

MAY 11, 2017

Ontario's move to unload a $2.8-billion stake in Hydro One Ltd. has hit a standstill after investors balked at the stock sale, leaving underwriters with as much as half of the shares unsold.

The province's cash-strapped Liberal government announced the huge offering Monday, selling 120 million shares at $23.25 apiece to a syndicate of investment banks on a bought-deal basis. That means the shares were purchased up front by the underwriters in hopes of reselling them quickly to public investors.

But tepid investor demand for the issue means the underwriters, led by Royal Bank of Canada and Canadian Imperial Bank of Commerce, were holding as much as $1.4-billion worth of stock as of Thursday, according to people familiar with the situation.

Because such a large slice of the deal remains unsold, the underwriters will likely be forced to cut the already discounted offering to unload the rest. On Thursday, the stock closed at $23.08 in Toronto, down 4 per cent from Monday's close. CIBC declined comment. RBC did not reply to a request for comment.

Under the bought deal, the Ontario government received its funds up front. It's the underwriters who are liable for any unsold stock, and it is unusual for such a large portion to remain.

The weak appetite stands in stark contrast to a string of recent share sales in the oil patch that have sold briskly. TransCanada Corp., Cenovus Energy Inc. and others have issued equity to fund major acquisitions in hopes of cutting costs as oil prices languish, generating hefty fees for investment banks.

Hydro One is viewed differently. This is the third time Premier Kathleen Wynne's Liberals have unloaded shares, lowering the province's stake in the utility to 49.9 per cent.

Investor fatigue has set in following an initial public offering in November, 2015, and a subsequent sale in April, 2016 – which means this isn't a new story, such as a takeover, for investors to get excited about. Meanwhile, Hydro One lacks exposure to investors in the United States enjoyed by big energy firms, making it tougher to sell.

Last week, president and chief executive officer Mayo Schmidt said the utility saw potential opportunities tied to consolidation of Ontario power distributors.

He also cited "terrific opportunities" for partnerships in the U.S., without elaborating.


"We are also poised for growth in new markets where our deep scan over the past number of months has identified opportunities that we believe would be accretive on every measure," he told analysts on a conference call.

The bought deal announced Monday includes an over-allotment option for banks to sell as much as 12 million extra shares over 30 days.

The sale of Hydro One shares has been politically unpopular for Ms. Wynne, whose support has flagged ahead of an election next year, partly due to concerns over sky-high electricity prices.

Yet selling its stake in the Crown utility has netted the debt-saddled province nearly $9-billion so far, money the Liberals have earmarked for key infrastructure projects.
Sr. Member
Feb 17, 2009
594 posts
28 upvotes
Brockville
Anyone amazed how kinder morgan still hasn't closed?
Newbie
Jan 13, 2008
85 posts
26 upvotes
rnakra wrote:
May 12th, 2017 3:21 pm
Anyone amazed how kinder morgan still hasn't closed?
I put in for 100. I am not surprised it hasn't closed. If they are able to get this thing built it should eventually become a nice little income producer. I am not convinced it will ever be built and so to me this offering is a bit speculative.
Sr. Member
Feb 17, 2009
594 posts
28 upvotes
Brockville
How did you put in for 100 I thought min was 300?

cdgnfr wrote:
May 12th, 2017 7:31 pm
I put in for 100. I am not surprised it hasn't closed. If they are able to get this thing built it should eventually become a nice little income producer. I am not convinced it will ever be built and so to me this offering is a bit speculative.
Newbie
Jan 13, 2008
85 posts
26 upvotes
rnakra wrote:
May 12th, 2017 7:58 pm
How did you put in for 100 I thought min was 300?

Subject: Current Offerings Request
Company: Kinder Morgan Canada Limited
Category: Restricted Voting Share
Price/Unit: 22.00
Settlement Date: 2017-05-29
From Account: XXXXXXXXX
Quantity: 100 units
Transaction Cost: 2,200.00 CAD


This was the confirmation of my request at Virtual Brokers. They have a 100 unit minimum on anything over $1 per share.
Deal Addict
Jul 28, 2009
1311 posts
218 upvotes
Kinder Morgan Canada is too risky with the minority govt in BC for me.
[OP]
Deal Expert
User avatar
Sep 19, 2004
19965 posts
2979 upvotes
Waterloo
SNAP +8%, wow, quite a comeback
https://ca.investing.com/equities/snap- ... rical-data
Date Price Open High Low Vol. Change %
May 15, 2017 20.64 19.55 20.74 19.50 37.13M 7.84%
May 12, 2017 19.14 18.44 19.48 18.16 68.97M 6.04%
May 11, 2017 18.05 17.96 18.90 17.59 131.86M -21.45%
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