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Chambers Street Properties Message Board

  • cbx6cylinder cbx6cylinder Jun 23, 2013 2:14 PM Flag

    Being able to trade shares that were not accepted for tender

    I am curious as to when anyone who has shares that they submitted for tender get notified when the ones not purchase become tradeable. When it went public, I waited 3 days and they were still showing as being non-tradeable. Want to see if they delay removing that statement this time around as compared to when other brokerage accounts allow trading.

    From what I have heard, most people were allowed to trade their shares immediately the day it went public.

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    • I have been told that it takes "some time" before tendered shares (not purchased) will be tradeable back in the brokerage account.

      • 2 Replies to rusty_wallace_fans
      • Have to wait and see what promptly means

        Can people post when their shares are returned so I can see if my brokerage account shows them tradeable at the same time as other brokerage accounts. Wen it went public, they showed mine still not eligible to trade for at least 4 days afterwords. Not even sure when they fixed the error since I tendered them on the third day which changed the status from not tradeable to tendered.

        Payment for the Common Shares accepted for purchase under the tender offer, and return of all other Common Shares tendered and not purchased, will occur promptly, in accordance with applicable law

      • I was told 3 to 10 days, but I don't believe much the brokerage firm tells me anymore since the person wasn't exactly sure that is the case

        Still would like to know when other people's account let them start trading them. I'll post when my account is updated for me to put in a sell order pending the price at the time(I'll place an open order to sell it for $10 if it's lower than that , and sell immediately if higher. I think most people with unpurchased shares will have the same thing in mind causing the price to drop again if it is in the $10 range)

 
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