Is GFA overvalued at current levels? google Awe.Some.Stock.s - they offer pretty good trade alerrts. you dont have to trade their tickers but it definetly helps you recognize possible patterns for stocks you're trading.
GFA may be a compelling opportunity. Yo you should really check out awe*some*stocks, they seem on point with their stocks.
Is GFA undervalued? This sort of setup suggests potential upside... google AWE-some.Stocks - they offer pretty good trade alerrts. you dont have to trade their tickers but it definetly helps you recognize possible patterns for stocks you're trading.
Got my Tenda CA$H on Etrade. $8.28/share!
NEWS TENDA SETTLEMENT......called Mackenzie Partners....our 17million shares of Tenda are being sold on open market in brasil. Soon as they are all sold (he says should be through in next couple weeks) we will receive the funds in our brokerage accounts. The amount per each Gafisa share we hold we will get (say today Tenda is trading at 14.04 Reals) $4.25 per share.
Have you all seen this document? ￼ DEPOSITARY NOTICE OF TENDA SHARE DISTRIBUTION GDSs: Rule 144A Global Depositary Shares (“GDSs”) of Gafisa S.A. GDS CUSIP NO.: 362607509. COMPANY: Gafisa S.A., a company organized under the laws of the Federative Republic of Brazil. DEPOSITED SECURITIES: Common Shares of the Company (“Common Shares”). GDS TO COMMON SHARE RATIO: One (1) GDS to two (2) Common Shares. DEPOSITARY OF GDSs: Citibank, N.A. CUSTODIAN OF DEPOSITED SECURITIES: Banco Itaú, S.A. DEPOSIT AGREEMENT: Amended and Restated Rule 144A Deposit Agreement, dated as of March 21, 2007, by and among the Company, the Depositary and all Holders (“Holders”) and Beneficial Owners of GDSs and evidenced by Rule 144A Global Depositary Receipts issued thereunder. ￼ GDS RECORD DATE: 5:00 pm (New York City time) on April 27, 2017. TENDA SHARE REQUEST PERIOD: April 28, 2017 through close of business in New York on May 11, 2017. The Company has announced a distribution (the “Distribution”) of shares of Construtora Tenda S.A., a subsidiary of the Company organized under the laws of the Federative Republic of Brazil. The terms of the Distribution are described in an Information Statement, dated March 23, 2017 and filed by the Company with the Securities and Exchange Commission (“SEC”) under cover of a Form 6-K. The Information Statement can be retrieved from the SEC website at: www.sec.gov and was circulated to Holders of GDSs by the Company. A copy of the Information Statement may be obtained from the Information Agent, MacKenzie Partners, Inc. at 1 800 322 2885, or at 001 212 929 5500 (if you are calling from outside the US). In accordance with Section 4.5 of the Deposit Agreement the Company requested the Depositary, and the Depositary agreed, (i) not to distribute the Tenda shares received in the Distribution to Holders of GDSs in the form of American depositary shares, (ii) to establish procedures to enable holders of GDSs to request to receive the Tenda shares in their pre-existing brokerage or custodian accounts in Brazil, (iii) to take commercially reasonable efforts to sell in the open market in Brazil the Tenda shares that were not requested by GDS Holders and that the Depositary was unable to deliver to Holders of GDSs that requested to receive the Tenda shares in their custody or brokerage accounts in Brazil, and (iv) to distribute the net cash proceeds from such sale of Tenda shares to Holders of GDSs entitled thereto in U.S. Dollars after deduction of applicable fees, taxes and expenses. Holders of GDSs as of the GDS Record Date are entitled to request the receipt in a pre-existing custody or brokerage account in Brazil of two (2) Tenda shares for each GDS held as of the GDS Record Date, and are entitled to receive the net cash proceeds from the sale of such Tenda shares not timely requested by GDS Holders to be delivered or that the Depositary was unable to deliver to GDS Holders that requested to receive the Tenda shares in their custody or brokerage accounts in Brazil. Holders of GDSs as of the GDS Record Date will receive net cash proceeds from the sale of Tenda shares if they do not timely request to receive the Tenda shares allocable to their GDSs (or if they elect for the Tenda shares to be sold). The period to request Tenda Shares (the “Tenda Share Request Period”) will run from open of business in NY on April 28, 2017 through close of business in New York City on May 11, 2017. There is no need to take any action if you wish to receive the net cash proceeds from the sale of Tenda shares. Holders of GDSs as of the GDS Record Date, who wish to request to receive Tenda shares as part of the Distribution in a pre-existing brokerage or custodian account in Brazil, need ￼ ￼ ￼ ￼ 9627533v.5 to instruct their brokers and custodians take the following actions, in each case prior to the expiration of the Tenda Share Request Period: to elect prior to the expiration of the Tender Share Request Period, to receive the Tenda shares via DTC’s Corporate Action Web Instruction Tab; and to deliver to the Depositary, prior to the close of business in New York on May 16, 2017, a duly completed, signed and medallion guaranteed Broker Delivery Instruction Form in the manner and at the address specified therein. A copy of the Broker Delivery Instruction Form is enclosed herewith (the “Broker Delivery Instructions Form”). The completed and signed Broker Delivery Instructions Form must be returned to the Depositary at the following address: ￼ BY OVERNIGHT COURIER: CITIBANK, N.A. c/o VOLUNTARY CORPORATE ACTIONS 250 ROYALL STREET SUITE V CANTON, MA 02021 OR BY FACSIMILE: 201-222-4593 OR BY E-MAIL: JAYNE.WHALEN@COMPUTERSHARE.COM Tel No. for Confirmation of Deliveries: 201-222-4412 ￼ Tenda shares requested by holders of Gafisa GDSs will be delivered only in Brazil into duly established custody and brokerage accounts. No delivery of Tenda shares will be made outside of Brazil. If the owner of the GDSs does not have a pre-existing brokerage or custodian account in Brazil, no election should be made to receive Tenda shares in the Distribution. Holders of GDSs as of the GDS Record Date who do not elect to receive Tenda shares in the Distribution, or whose Tenda shares cannot be timely delivered, will receive the net cash proceeds of the sale of the Tenda shares upon the terms described below. The Depositary will take commercially reasonable efforts to sell in the open market in Brazil, starting on or about May 18, 2017, the Tenda shares that (x) were not timely and validly requested by GDS holders and (y) the Depositary was unable, PRIOR TO CLOSE OF BUSINESS IN BRAZIL ON MAY 25, 2017, to deliver in the requesting holders’ custody or brokerage accounts in Brazil. The Depositary will distribute the net cash proceeds from such sale of Tenda shares to Holders of GDSs entitled thereto in U.S. Dollars after deduction of applicable fees, taxes and expenses. The New York Stock Exchange has informed the Depositary that it will not formally establish an “ex” date for the Gafisa American Depositary Shares in connection with the Distribution. Please note that only holders of GDSs as of close of business in NY on the GDS Record Date will be entitled to the Distribution. As a result, any holders of GDSs who sell their GDSs before the GDS Record Date and whose sales of such securities settle before close of business in NY on the GDS Record Date will not be entitled to the Distribution. Similarly, investors who purchase GDSs before the GDS Record Date and whose purchases of such securities settle after close of business in NY on the GDS Record Date will not be entitled to the Distribution. The Depositary’s books will continue to be closed for GDS issuances and cancellations until at least close of business in New York on May 12, 2017. The information with respect to the Distribution has been provided by the Company to the Depositary. Citibank, N.A. is issuing this Depositary Notice of Tenda Share Distribution solely as Depositary for the GDSs, disclaims any responsibility with respect to the accuracy or completeness of the information provided by the Company and expresses no views or opinions with respect to the Distribution. 9627533v.5 2 If you have any questions concerning this Depositary Notice of Tenda Share Distribution, please contact the Information Agent, MacKenzie Partners, Inc. at 1 800 322 2885, or at 001 212 929 5500 (if you are calling from outside the US). Updated April 25, 2017 Attachment: Broker Delivery Instruction Form Citibank, N.A – GDS Depositary ￼ 9627533v.5 3
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I still haven't received any cash from the Tenda distribution. Not sure what's taking so long. Hopefully they've sold the Tenda shares already, cause they are down double digits today, plus Brazil's currency is weaker.
Anyone have any idea when we can expect to finally receive our proceeds from Tenda? My broker has no idea; believes the April 12th distribution *was* the Tenda distribution, which would be really bad if true.
We will be getting matching shares of Tenda as what we hold in GFA. Citibank is in charge of the disposition. That what I understand in email from IR dept.
Has anyone found a law firm that will represent us against Tend, GFA, NASD and related entity stockholders? If so, who are they? What is their contact information?
ANY ONE KNOW WHEN WE GET TENDA SHARES?
TEND3 opened today at R$15.59 and are currently trading at R$14.69 (almost double the sales price).
No seeing anything. Guessing that a large holder just exited premarket and that once stops were hit below $15 it as a snowball affect. Low float stocks can move dramatically like this.
GFSA3 concluded its separation from Tenda, and the shares now reflect that action.
We can now proscribe a fair value to GFA again with the formula being (GFSA3 * 2) / (USD/BRL)
Fair value for GFA as of now is (17.70 * 2) / 3.20 = $11.06.
We trade Gafisa in NYSE symbol GFA using US currency. (ADR) Brazilians trade Gafisa in their exchange BM&EBovespa symbol GFSA3.SA Brazil Real The currency exchange rate is today R3.17 against $1 US The day of big selloff was nothing but getting GFA in alignment with each other.
So you just receive cash equivalent for each share - why would the shares plummet 30% on that? I'm sure more to it...
From the 'fools': "What's happening Shares of Gafisa SA (ADR) (NYSE:GFA), the Brazil-based residential and commercial construction company, are down 28% at 12:11 p.m. EDT on April 25, 2017, following the announcement of the spinoff and IPO of subsidiary Tenda, to be "on or about" April 27 for shareholders of record. "
What is going on with GFA today? About 30% drop on large volume...
The "Fool" does not know difference between ADRs and ADSs
MAY-2016 Gafisa SA NYSE : GFA Correlation Histogram
X axis : Stocks Price Correlation Coefficient Y axis : Quantity of stocks May-2016 1,000 Day Parameter 4,338 NYSE Stocks Price Analysis This stock mode of correlation coefficient is 0.7 In other words, the correlation coefficient of the other stocks