Stock Allied Circuit(8155) announced on December 12th they were listing on the big board on December 18th (today) at a price of NT$24. The stock closed on December 12th at NT $31.80. The earliest price I could find was back in January at $20. Not sure if that was the ESM pricing. The stock stayed in the $20 range until August which is when I believe was when their application was approved to list on the big board. By September 5th the priced moved to $31 and stayed in that range till the IPO went off today priced at $24. The stock close today @$29.10 up $5.10 on 2 million shares.
Nice to see, but probably not that all relevant to our situation. Firstly, Stock Allied probably doesn't trade at 30% of its fair market value. Also it is not listed in the USA. Shares here will start to respond when things start to get clear on the listing. Right now nobody knows about it yet except those on this board. When it is clear, the shares in the USA won't leave a 200% to 300% return on the table till the last min. It will start to reflect the true value before then, probably in a steady rise with some quick (small) jumps. We have seen that before, but this time it won't pull back instead hold, maybe a slight pullback, and then work higher.
Turturo, what is relevent is they priced the IPO at a 25% discount to the last trade on the ESM NT$ 24 on 12/17 and 5 days later 12/22 the stock closed at NT $31. If IMOS does price at a 25-30% discount the price could and should move up very quickly. I do agree if the stock is priced at a very large discount in February or March on the ESM but is still way above the price range now (let's say $15 -$18 US dollars) we will see that gap close very quickly.
Caff, the Reuters site (just google the stock name with 8155) has a chart going back to May, 2011. From that point until year-end 2011 the stock traded between NT$20-NT$27. I noticed the IPO price did not reflect the previous twenty trading days.
TIMELINE, # 1 6/27 Application date # 2 8/31 date of the listing screening committee #3 9/21 date of the application sanctioned by the board of directors of GTSM # 4 10/4 date of listing agreement sanctioned by securities and futures bureau #5 12/12 announced pricing @ NT 24 #6 12/17 stock closed on the ESM @ NT 32.15 # 7 12/18 stock moves to the big board with a pricing of NT 24 and opens @ NT 30.80 and closes @ NT 29.10 up NT 5.10 or 21.25% 52 range is $18.37- $35.
TIMELINE #1 6/27 application date #2 8/31 date of the listing screening committee #3 9/21 date of the application sanctioned by the board of directors of GTSM #4 date of listing agreement sanctioned by securities and futures bureau #5 12/12 announced pricing @ $NT24 #6 12/17 Stock closed on the ESM @ $NT 32.15 #7 12/18 IPO pricing of $NT24 stock opens up @$NT30.80 and closes @$NT29.10 up $NT 5.10 21.25%